Venture Global LNG Revises IPO Price and Valuation

Venture Global Inc. has revised its initial public offering (IPO) plan by lowering the price range from $40-$46 to $23-$27 per share and increasing the number of shares offered. The company aims to raise approximately $1.89 billion, valuing the company at about $65 billion, which is a significant reduction from the initial valuation target of $110 billion. The decision to adjust the IPO terms comes amid operational challenges, including extended force majeure at its Calcasieu Pass LNG plant and court challenges from long-term clients like BP and Shell over contract commitments. Despite these setbacks, if the new plan proceeds, Venture Global could still raise up to $2.36 billion. The company did not provide an official comment on these developments.