Venture Global's shares opened nearly 4% below their initial public offering price in a subdued NYSE debut on Friday, giving the LNG exporter a valuation of $58.2 billion and reinforcing the cautious approach of investors to new listings.
The IPO was expected to be the first blockbuster listing of 2025, as well as a litmus test for the appetite for energy companies under the Trump administration. Arlington, Virginia-based Venture Global had already sharply lowered its valuation when it sold shares in the IPO on Thursday, settling for a price tag nearly 45% lower than the $110 billion it had aimed for earlier.
It sold 70 million shares to raise $1.75 billion, much lower than its initial plan to raise as much as $2.3 billion. Investors and analysts said the initial target was 'lofty' and expressed concerns over its estimates for long-term profit and ongoing legal battles.
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