Titan America has raised $384 million after pricing its U.S. initial public offering at $16 per share, within its targeted range, the cement producer said on Thursday. Sentiment in the U.S. IPO market has improved on expectations of lower corporate taxes and a more business-friendly regulatory environment under the Donald Trump administration.

Titan America, a subsidiary of Titan Cement International SA, commenced its initial public offering (IPO) today, with shares opening at $16.20, exceeding the IPO price of $16.00 per share. Shares began trading today on the NYSE under the ticker "TTAM".

Titan America (TTAM), a subsidiary of Titan Cement International and parent company of its U.S. operations, priced its IPO of 24M shares at a price to the public of $16.00 per share. The IPO consists of 9M new common shares to be issued and sold by Titan America and 15M existing shares to be sold by Titan Cement International SA.