Natural gas exporter Venture Global The shares fell by 4% on the first day of trade, because the company tried to test investors' appetite on energy campaigns among the efforts of Trump's administration in order to implement a wide -ranging program aimed at increasing oil and gas production.
“Trump's administration explained that he supported the growing LNG export,” said CNBC General CEO of Venture on Friday in an interview.
The shares ended the day at 24 USD, which by putting the market capitalization of about $ 58 billion. Venture is the second largest LNG exporter in the USA Cheen.
The company valued its own Initial public offer 70 million shares of USD 25 to collect USD 1.75 billion for a total valuation of approximately USD 60.5 billion. But the shares opened by 3.8% below this price at 24.05 USD, when trade began on the New York Stock Exchange on Friday afternoon.
Even before this opening trade, the Venture has already suffered steeply for the IPO price for its original purpose. The company had Originally planned Offering 50 million shares in the range from 40 to 46 USD, which would collect around USD 2.2 billion at the central point for a total valuation of USD 110 billion.
Despite this, IPO Venture has been the largest by a oil and gas company for a decade, and the fourth largest from 2000 with a valuation of about $ 60 billion would be a tenth largest energy company.
Venture is located at various stages of launching, building and developing five liquefaction and exports of natural gas near the Mexican Bay in Louisiana. According to the company's prospectus, these projects will have a peak production capacity of 143.8 million tonnes per year.
However, the undertaking is enclosed in arbitration with clients, including directions such as Shellwho accuse the company of not providing LNG charges on the basis of a long -term contract from the Calcasau PASS plant in Louisiana.
Meanwhile, the president Donald Trump On Monday he announced Domestic energy accident and issued an executive order to repeal the Biden administration pause in the field of new LNG export projects, removing a potential obstacle to the development of venture.
Trump's policy, combined with cold winter weather and expected solid demand on the part of artificial intelligence, helps increase natural gas prices as well as related actions. For example, Cheniere shares increased by more than 20% since the selection of Trump. Natural gas prices increased by 44% at the same time.
Correction: CEO Venture Global is Mike Sabel. The earlier version of this story incorrectly wrote his name.