"The Trump administration has made very clear they support growing LNG exports," Venture CEO Mike Sable told CNBC in an interview Friday.

Energy company Venture Global prices 70 million shares at $25 — the middle of its reduced $23-$27 price range.

Liquefied natural gas exporter Venture Global said on Thursday it had raised $1.75 billion, marking the first big initial public offering of President Donald Trump's second term as investors bet on his plan to boost U.

Venture Global LNG's shares were set to open up to 6% above their offer price in their debut on the New York Stock Exchange on Friday. The LNG exporter's stock was indicated to trade between $25.5 and $26.

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

Venture Global LNG has raised $1.75 billion after pricing its U.S. initial public offering within range, the second-largest exporter of liquefied natural gas in the United States said on Thursday. The company priced its offering of 70 million shares at $25 each,

At $23 a share — the new low end of Venture Global’s IPO price range — the company would be valued at about $56bn, on par with Cheniere Energy, the largest LNG producer and exporter in the US.

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