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Venture Global co-founder Bob Pender (left) and co-founder and CEO Mike Sabel (center) celebrate after ringing the opening bell at the New York Stock Exchange on Jan. 24, 2025Key Takeaways
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Shares of liquefied natural gas exporter Venture Global finished Friday's first day of trading below their initial public offering price of $25 per share.
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The company generated $1.75 billion by pricing 70 million shares in the middle of its $23 to $27 range.
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Venture Global initially offered 50 million shares priced between $40 and $46, the midpoint of which would have allowed the firm to raise $2.15 billion.
Shares of liquefied natural gas (LNG) exporter Venture Global (VG) closed Friday's first day of trading below their initial public offering (IPO) price of $25 per share.
Venture Global opened on the New York Stock Exchange (NYSE) at $24.05 per share and closed at $23.94, more than 4% below the IPO price.
The company generated $1.75 billion by pricing 70 million shares in the middle of its $23 to $27 range. Venture Global initially offered 50 million shares priced between $40 and $46, the midpoint of which would have allowed the firm to raise $2.15 billion.
Venture Global 9-Month Revenue, Profit Down in 2024
The company had raised roughly $54 billion in capital and had generated about $14.2 billion in net proceeds as of Sept. 30, according to its prospectus. Across the first nine months of the year, Venture Global produced profit of $604 million, or 23 cents per share, on revenue of $3.45 billion, well below the respective figures for 2023.
According to The Wall Street Journal, the company faces arbitration challenges, as long-term customers have complained that Venture Global sold its LNG on the spot market following Russia's invasion of Ukraine to take advantage of higher prices.
UPDATE—This article has been updated with closing share price information.
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