02:49 PM EDT, 09/05/2024 (MT Newswires) -- Citigroup ( C ) and Goldman Sachs (GS) were hired to help arrange a planned listing of Titan Cement's US business next year, Bloomberg reported Thursday, citing people familiar with the matter.

Titan Cement plans to raise at least $500 million by selling a minority stake through the IPO of Titan America, the report said.

Titan America could fetch a valuation of over $2 billion via the listing, according to the people.

Representatives for Titan Cement, Citigroup ( C ) and Goldman declined Bloomberg's requests for comment.

Citigroup ( C ) declined MT Newswires' request for comment, while Titan Cement and Goldman did not immediately reply.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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