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.

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 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,

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

Venture Global Inc. raised $1.75 billion in its initial public offering, pricing its shares in the middle of a marketed range.Most Read from BloombergWhat Happened to Hanging Out on the Street?How Sanctuary Cities Are Preparing for Another Showdown With TrumpBillionaire Developer Caruso Slams LA Leadership Over WildfiresTexas HOA Charged With Discrimination for Banning Section 8 RentersHoboken PATH Station Will Close for Almost a Month on Jan.

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.