Natural gas source World project The shares fell 4 % on the first day of trading, as the company was looking to test the investor's appetite for energy shares amid the efforts of the Trump administration to implement a comprehensive agenda aimed at enhancing oil and gas production.
“The Trump administration has made it clear that it supports the export of increased LNG,” said Mike Sabel, CEO of Venture CNBC.
Today, the stocks ended with $ 24, which put the company's market value of about $ 58 billion. The project is the second largest exporter of LNG in the United States behind the United States Chenere.
The company had prices The first general offering Of 70 million shares at $ 25 to raise $ 1.75 billion for a total assessment of about $ 60.5 billion. But the stock opened by 3.8 % less than this price at 24.05 dollars when trading on the New York Stock Exchange began on Friday afternoon.
Even before that opening trade, Venture has already cut off the public subscription price for its original goal. The company was Originally To offer 50 million shares in a range between 40 to 46 dollars, which would have raised about $ 2.2 billion at the center point with a total value of $ 110 billion.
However, Venture's public subscription is the largest by an oil and gas company in a decade of time and the fourth largest since 2000. With the evaluation of about 60 billion dollars, it will be the largest power company circulated in the tenth.
Venture is in different stages of assignment, building and developing five liquefied and export facilities near the Gulf of Mexico in Louisiana. These projects are expected to have a production capacity of 143.8 million tons annually, according to the company's bulletin.
However, the project is closed in arbitration with customers, including specializations such as coincidenceThose who are accused of failure to deliver liquefied natural gas shipments under a long -term contract from the Calcasieu Pass factory in Louisiana.
At the same time, the president Donald Trump He announced on Monday a National Energy Emergency He issued an executive order that turns on the stop of the Biden administration in new export projects for LNG, which led to a possible obstacle to Venture's growth.
Trump's policies, along with cold winter weather and strong demand for artificial intelligence, help increase the prices of natural gas and relevant stocks. Cheniere shares have increased, for example, more than 20 % since Trump was elected. Natural gas prices increased by 44 % over the same time.
Correction: Venture Global CEO is Mike Sable. A previous version of this story made mistakes in his name.
