Venture Global LNG Prepares to Revamp IPO Plans
A Shift in Strategy
Venture Global LNG is poised to make significant changes to its highly anticipated initial public offering (IPO). According to a source with direct knowledge of the matter, the company is considering a revised IPO plan that would see it cut the proposed price range and increase the number of shares available to investors.
New Price Range and Share Volume
Under the revised plan, Venture Global would aim to raise a similar amount from investors, but at a lower prospective price. The company is looking at a new price range of $32 to $38 per share, down from its initial guidance of $40 to $46 per share. To compensate, Venture Global may sell up to 62 million shares in its proposed New York listing, a significant increase from its original plan of 50 million shares.
Raising the Stakes
While the decision to revise the IPO plan is not yet finalized, the potential changes could have a significant impact on the company’s fundraising efforts. If the revised plan goes ahead, Venture Global could raise as much as $2.36 billion, according to calculations. This is only slightly higher than the $2.30 billion the company initially sought to raise when it launched the IPO on January 13.
A Company in Flux
Venture Global, based in Arlington, Virginia, has yet to respond to requests for comment on the potential changes to its IPO plan. As the company navigates this critical phase, one thing is clear: its IPO strategy is undergoing a significant transformation.
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