Venture Global LNG was forced to nearly halve the valuation it is seeking in its U.S. initial public offering (IPO) after investors balked at the company's estimated long-term profit for liquefying gas for export,

Venture Global Inc. slashed the marketed range for its initial public offering, lowering the market value it could fetch.

Venture Global is now seeking a more reasonable valuation of about $65 billion, versus earlier plans for about $110 billion.

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.

Liquefied natural gas producer Venture Global slashed the proposed range for its IPO on Wednesday, lowering the valuation it sought to ~$65B from the initial target of $110B at the top of the previous range.

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

LNG exporter Venture Global lowered the offer price for its initial public offering in the U.S. on Wednesday, effectively increasing the number of shares it plans to sell and targeting a valuation of as much as $65.