*

Venture Global cuts IPO price range, increases share count

*

Aims for a valuation of up to $65.3 bln vs $110.4 bln

earlier

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Looks to raise up to $1.89 bln vs prior target of $2.30

bln

(Adds analyst comment in paragraphs 4, 5 and 12, company

background in paragraphs 11 and 15)

By Manya Saini

Jan 22 (Reuters) - LNG exporter Venture Global on

Wednesday slashed the valuation it was seeking from its U.S.

initial public offering to as much as $65.33 billion,

significantly lower than the more than $100 billion it had

initially aimed.

The company also lowered its offer price, effectively

increasing the number of shares on sale against the backdrop of

analysts warning that its high target valuation and small float

could deter potential investors.

It now aims to sell 70 million shares at a price range of

$23 to $27 to raise $1.89 billion, compared with its prior

target of selling 50 million shares for $40 to $46 each to raise

as much as $2.30 billion.

"Offering more shares at a lower price would imply it needs

to raise a specific amount of money at the IPO, yet the

prospectus says there is no specific plan on how and where it

will apply new funds," said Dan Coatsworth, investment analyst

at AJ Bell.

"It's unusual for a company to increase the number of shares

it plans to issue at IPO."

The pricing of an IPO is not guaranteed to fall within the

range provided at the start of the formal marketing process and

making adjustments is relatively common. The final price is

often dictated by investor demand, underwriters and the

company.

Venture Global's share sale coincides with Trump issuing an

order to resume processing export permit applications for new

LNG projects, in a push to raise U.S. energy output and

dismantle his predecessor's climate policies.

His decision could pave the way for almost 100 million

metric tons per annum of additional LNG by 2031 by projects that

are significantly advanced, further cementing the U.S. as the

world's largest LNG exporter.

The order reversed a pause on permits for new projects that

put in place in early 2024 to study the environmental and

economic effects of the booming export industry.

Reuters first reported the revised IPO plans on Tuesday,

citing a source.

Venture Global exports LNG through a process in which gas is

cooled into a liquid form for transportation to several

international markets, including Europe and Asia.

"Building export terminals is expensive and Venture Global

joining the stock market will allow it to tap capital markets

for funding," Coatsworth said.

Global LNG demand has been rising as the world transitions

to cleaner energy sources.

The U.S., a key supplier to European and Asian countries,

has become the largest exporter of the superchilled gas, driven

by abundant natural gas reserves and the rapid development of

LNG terminals along the Gulf Coast.

Venture Global has five LNG projects in various stages of

development near the Gulf of Mexico in Louisiana and expects to

have total peak production of 143.8 million tonnes a year.

The company, founded in 2013 by former investment banker

Michael Sabel and financial lawyer Robert Pender, is aiming to

trade on the New York Stock Exchange under the ticker symbol

"VG."

Its IPO is being underwritten by a syndicate of Wall Street

banks led by Goldman Sachs, J.P. Morgan and BofA Securities.

(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)