Sources: Charah Solutions Inc., Louisville, Ky.; Renaissance Capital, Greenwich, Conn.; CP staff
Fly ash marketer and coal combustion byproducts management specialist Charah has begun trading on New York Stock Exchange under the symbol, CHRA. In a June 14 initial public offering, the company and key stockholders raised $88 million through the sale of 5,294,117 and 2,058,824 shares, respectively. The pool represents an approximately 23 percent stake in a business that reported 2017 sales of $430 million from two segments: Environmental Solutions, anchored by fly ash and bottom ash management and marketing contracts at coal-fired power stations; and, Maintenance and Technical Services, geared to fossil fuel- and nuclear-powered facility operators.
Sources: Huntsman Corp., The Woodlands, Texas; CP staff
Huntsman anticipates an early-August initial public offering of 22.7 million Venator Materials Plc shares, priced in the $20-$22 range and traded on the New York Stock Exchange under the VNTR symbol. The Wynard, United Kingdom-based entity encompasses Davis Colors, Granufin and other Rockwood Pigments brands Huntsman acquired in 2013.
Sources: CP staff; Forterra Inc., Irving, Texas
Water and wastewater infrastructure-geared Forterra Inc., a recently established entity emanating from Forterra Building Products, details in U.S. Securities & Exchange Commission filings an initial public offering of 18.4 million shares priced in the $19-$21 range. Success in the impending sale would give new investors and principal owner Forterra US Holdings LLC, respectively, 29 percent and 71 percent stakes in a 96-plant operation with annual sales of about $1.6 billion across Drainage Pipe & Precast Products and Water Transmission Pipe & Products segments.