Venture Global LNG IPO Flop
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largest LNG companiesReuters
•Business
Business & Economics
Analysis-Investors balked at Venture Global's earnings outlook before IPO price cut

77% Informative
Venture Global LNG forced to nearly halve the valuation it is seeking in its U.S. initial public offering.
Investors balked at the company's estimated long-term profit for liquefying gas for export, investors told Reuters .
The Arlington , Virginia -based firm on Wednesday slashed its price range by more than 40% to upper guidance of $65 billion , down from $110 billion .
Venture Global is the second -largest exporter of liquefied natural gas in the United States .
A delay could be favorable, allowing Venture Global to settle litigation and make progress on its expansion, as well as for the market to absorb the impact of Trump 's energy policies. The company currently has two operational plants and has three more LNG projects in various stages of development near the Gulf of Mexico in Louisiana . "We're torn on the deal, as the valuation looks high but it's a fascinating story," said a third investor, before the price revision. (Reporting by Echo Wang and David French in New York and Curtis Williams in Houston ; Editing by Simon Webb and Nick Zieminski ).
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