Jun 4, 2018 - Economy

Charah preps IPO as Trump preps coal and nuclear bailout plan

Coal-fired power plant in Pennsylvania.

Coal-fired power plant in Cheswick, Pennsylvania. Photo by Robert Nickelsberg/Getty Images

Chara Solutions, a Kentucky-based provider of environmental and maintenance services to coal and nuclear power plants, on Monday set terms for an IPO that is expected to price later this month. At the $17 per share midpoint, it would have an initial market cap of $511 million.

Big picture: This comes just after President Trump asked the Department of Energy to prep a landmark economic aid package for troubled coal-fired and nuclear power plants (i.e., many of Charah's target customers).

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