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LNG Exporter Venture Global Stock Closes Below IPO Price in Debut
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Key takeaways
- Liquefied natural gas exporter Venture Global’s shares started their first day of trading Friday below its initial public offering price of $25 a share.
- The company priced 70 million shares in its $23 to $27 range to generate $1.75 billion.
- Venture Global is initially offering 50 million shares at a price range of $40 to $46, the midpoint of which will allow the company to raise $2.15 billion.
shares Liquefied natural gas (LNG) Exporter Risk Global (VG) closed the first day of trading on Friday Initial Public Offering (IPO) The price is $25 per share.
The risk is global New York Stock Exchange (NYSE) At $24.05 per share, it closed at $23.94, more than 4% below the IPO price.
The company priced 70 million shares in its $23 to $27 range to generate $1.75 billion. Venture Global is initially offering 50 million shares at a price range of $40 to $46, the midpoint of which will allow the company to raise $2.15 billion.
Risks Global 9-month revenue, profits fall in 2024
The company raised approximately $54 billion in capital and generated approximately $14.2 billion net income As of September 30, according to its prospectus. In the first nine months of the year, Venture Global had revenue of $304 million, or 23 cents per share, on revenue of $3.45 billion, well below corresponding 2023 figures.
according to The Wall Street Journalthe company faces arbitration Challenges as long-term customers complain Global Risk Global sells its LNG on spot market amid Russia’s incursion into Ukraine to take advantage of higher prices.
UPDATE – This article has been updated with closing stock price information.
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