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(Reuters) -Encourage exporter of natural gas, Venture Global, said on Thursday that he had raised $ 1.75 million, marking the first major public offer of President Donald Trump President Donald Trump, while investors opted for his plan to push U.S. energy production.
Venture Global is the second largest exporter of liquefied natural gas, or GNL, in the United States, and one of Trump’s first movements after its inauguration was to sign an executive order to end a moratorium on the new export permits of export. GNL, which erases an obstacle to venture the global expansion plan.
However, the company was forced at almost half of the assessment he sought after investors were reporting their estimates for long -term profits for exports, Reuters reported on Wednesday.
The offer of 70 million shares was sold to $ 25 each, within a revised range of $ 23 to 27. The company also increased the number of shares offered.
The company had initially set a goal of selling 50 million shares of $ 40 to 46 each to raise up to $ 2.3 billion for $ 110 million.
Trump had promised to partially maximize the production of oil and natural gas, erasing what is considered unnecessary regulation and bureaucracy. Trump also said that he wants European companies to buy more GNL in the United States.
Venture Global’s offer extends a strong start to the OIP, deepened by the US Federal Reserve interest rate cuts and the expectations of deregulation and reduction of taxes on companies under virtue of The Trump Administration.
Actions of Oilfield Flowco’s service provider jumped in their market debut last week, while Smithfield Foods will be made public next week with a $ 10.7 billion rating goal.
Venture Global has five GNL projects in various stages of development near the Gulf of Mexico in Louisiana and hopes to have a total maximum production of 143.8 million tonnes a year.
Developers such as Venture Global have built terminals along the United States Gulf coast to liquidate and send the gas, making the United States the world’s largest exporter in the world.
Investors had been concerned about cases of arbitration in Venture Global contracts, that some of the main world producers of oil and gas, including BP, Shell and Repsol, for the exported loads of the first project of the company, the passage plant. of Calcasieu.
Cases could cost billions of dollars, if they lose, indicated their IPO document.
Despite the price review, Venture Global market value is underway to overcome the opponent Cheniere Energy, currently the largest exporter of North GNL -American with market value of about $ 52.36 million.
