Dec 20 (Reuters) - Venture Global, one of the largest
producers of liquefied natural gas in the United States, on
Friday filed for what could be one of the largest initial public
offerings globally next year.
The LNG producer plans to list its Class A common shares
under the symbol "VG" on NYSE, the company's filing showed.
In November, Reuters reported that the Arlington,
Virginia-based company was planning to raise about $3 billion
from its IPO in New York.
Cold storage giant Lineage's $4.44 billion New York
IPO in July and Hyundai Motor India's $3.33 billion
Mumbai IPO last month were two of the largest listings this
year, LSEG data showed.
The company plans to use part of the proceeds for general
business purposes, including funding its operations.
After the IPO, Venture's founders and co-chairmans, Robert
Pender and Michael Sabel, will continue to hold more than 50% of
voting power through their entity Venture Global Partners II,
LLC, the company said in its filing. Sabel is also the company's
CEO.
It said Goldman Sachs & Co., J.P. Morgan, BofA Securities,
ING, RBC Capital Markets, Scotiabank and Mizuho are among the
underwriters for the IPO, according to the filing.
Founded 11 years ago, Venture Global has already rocketed
into the top ranks of U.S. natural gas exporters, competing
against larger rivals Cheniere Energy, Freeport LNG and
Sempra ( SRE ).
Venture Global has two operating plants in Louisiana, with
its second facility at Plaquemines achieving its first LNG
production just last week.
The company reported revenues of $3.45 billion for the nine
months ended Sep 30, compared with $6.27 billion, a year
earlier.