LNG producer Venture Global files for IPO on NYSE
12/24/2024
Venture Global filed for what could be one of the largest initial public offerings globally next year.
The LNG producer plans to list its Class A common shares under the symbol "VG" on NYSE, the company's filing showed.
In November, Reuters reported that the Arlington, Virginia-based company was planning to raise about $3 B from its IPO in New York.
The company plans to use part of the proceeds for general business purposes, including funding its operations.
After the IPO, Venture's founders and co-chairmans, Robert Pender and Michael Sabel, will continue to hold more than 50% of voting power through their entity Venture Global Partners II, LLC, the company said in its filing. Sabel is also the company's CEO.
Founded 11 years ago, Venture Global has already rocketed into the top ranks of U.S. natural gas exporters, competing against larger rivals Cheniere Energy, Freeport LNG and Sempra. Venture Global has two operating plants in Louisiana, with its second facility at Plaquemines achieving its first LNG production just last week.
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