Reported about 4 hours ago
Venture Global LNG has reduced its target valuation for its upcoming U.S. IPO to $65.3 billion from an initial $110 billion, amid investor hesitance regarding its sales forecasts. The company plans to sell 70 million shares priced between $23 and $27, aiming to raise $1.89 billion, which reflects a significant adjustment from its previous plan. U.S. LNG demand is rising, especially following the reductions in European gas supplies due to geopolitical tensions, positioning Venture Global as a key player in the energy sector amidst expanding production capabilities.
Source: YAHOO