Venture Global LNG raises $1.75 billion in IPO

Venture Global announced on Thursday the pricing of its IPO of 70 million shares of its Class A common stock, par value $0.01 at a public offering price of $25 per share.

In connection with the offering, Venture Global has granted the underwriters a 30-day option to purchase up to an additional 10,5 million shares of Class A common stock.

Venture Global said the shares of Class A common stock are expected to begin trading on the New York Stock Exchange on January 24, 2025, under the symbol “VG.”

The company expects to close the offering on January 27, 2025, subject to the satisfaction of customary closing conditions.

Venture Global initially planned to offer 50 million of its Class A common stock priced between $40 and $46 each, seeking to raise up to $2.3 billion, while it targeted up to $110.4 billion valuation.

Earlier this week, Venture Global slashed the targeted price range for its IPO.

The company said is aiming to sell 70 million of its Class A common stock priced between $23 and $27 each.

This means that Venture Global priced its shares in the middle of this marketed range.

Based on the outstanding shares listed in the IPO, Venture Global’s market value will reach $60.5 billion.

Last month, Venture Global filed for the IPO. The company also revealed plans to boost its export capacity to 104.4 mtpa via five projects by 2034.

Venture Global’s founders, Robert Pender and Michael Sabel, control Venture Global Partners II, or VG Partners, which is the company’s controlling stockholder.

Prior to this offering, VG Partners owned about 84 percent of all series of Venture Global’s common stock outstanding.