According to the S-1, Venture Global plans to offer 50 million shares and anticipates the IPO price will be between $40 and $46 a share. (Source: Shutterstock/ Venture Global LNG)
Venture Global plans to make waves with its upcoming U.S. IPO, aiming for a valuation around $110 billion.
The company is set to pitch its IPO to investors by Jan. 17, Reuters reported.
The company disclosed the estimate through an amendment to its S-1 statement filed with the Securities & Exchange Commission. The company originally filed its intent to hold an IPO on Dec. 20, about a week after Venture Global’s Plaquemines LNG plant started production.
According to the S-1, Venture Global plans to offer 50 million shares and anticipates the IPO price will be between $40 and $46 a share, raising up to $2.3 billion on the upper end of the stock price. That would set the company’s value at about $110 billion.
The offering could rival New York’s largest energy IPO on record. Conoco raised $4.4 billion in 1998, according to Reuters.
Venture Global seeks to take advantage of a rapidly growing global demand for LNG. The U.S. leads the globe in LNG exports, and besides the two LNG export terminals already functioning along the Gulf Coast, the company has five projects that are either commissioning or in the planning stages.
According to the company’s third-quarter earnings, Venture Global had $19.6 billion in proceeds for 2024.
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