LNG Exporter Venture Global Eyes $110 Billion Valuation in Historic IPO
As the world shifts towards renewable energy, Venture Global, a leading liquefied natural gas (LNG) exporter, is poised to make a splash in the stock market with an initial public offering (IPO) that could reach a staggering $110.38 billion valuation.
A Blockbuster Flotation in the Making
The Arlington, Virginia-based company is seeking to raise up to $2.30 billion by offering 50 million shares priced between $40 and $46 each. This would make it one of the biggest energy listings ever in New York and the largest in over a decade.
Growing Global Demand for LNG
The IPO comes at a time when global LNG demand is on the rise, driven by countries seeking cleaner alternatives to coal and oil. The United States, a major LNG supplier to Europe and Asia, has emerged as the world’s largest exporter of the superchilled gas, thanks to its abundant natural gas reserves and the development of LNG terminals along the Gulf Coast.
Venture Global’s Rapid Rise to Prominence
Founded in 2013 by industry outsiders Michael Sabel and Robert Pender, Venture Global has rapidly grown into one of the biggest U.S. LNG exporters, competing with names such as Cheniere Energy, Freeport LNG, and Sempra. The company began generating proceeds in 2022 when its first facility, Calcasieu Pass, started producing LNG.
Expansion Plans and Future Growth
Venture Global currently has five LNG projects in various stages of development near the Gulf of Mexico in Louisiana. The company has raised roughly $54 billion of capital for its projects and generated about $19.6 billion in gross proceeds from LNG sales as of September 30. With its second facility, Plaquemines, starting production last month, Venture Global is poised for continued growth and expansion.
Leadership and IPO Details
Sabel and Pender will continue to control over 50% of the voting power after the offering. Goldman Sachs, J.P. Morgan, and BofA Securities are the lead underwriters. Venture Global will be listed on the New York Stock Exchange under the symbol “VG”.
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