Venture Global slashes IPO valuation by 40%, facing investor concerns over long-term profit outlook for LNG production.

Venture Global LNG on Wednesday slashed the valuation it sought from a U.S. initial public offering to $65.33 billion, significantly lower than the initial target of $110 billion. The revision by the second-largest exporter of liquefied natural gas in the United States follows days of marketing to potential investors,

The company plans to increase its share offering from 50 million to up to 62 million in its potential New York flotation.