The energy company raised $1.75 billion by pricing 70 million shares at $25, the middle of its reduced $23 to $27 price range.

Key Takeaways Shares of liquefied natural gas exporter Venture Global finished Friday's first day of trading below their initial public offering price of $25 per share.The company generated $1.75 billion by pricing 70 million shares in the middle of its $23 to $27 range.

Venture Global launched its initial public offering with a lofty goal: Raise up to $2.3 billion at a $110 billion valuation in the biggest stock-market debut since summer. The market had different plans.

Venture Global Inc. shares slipped 3.8% in the natural gas exporter’s debut as a public company, after slashing its price target ahead of its IPO.Most Read from BloombergWhat Happened to Hanging Out on the Street?

Venture Global is the second-largest exporter of liquefied natural gas, or LNG, in the United States, and one of Trump's first moves after his inauguration was to sign an executive order to end a moratorium on new LNG export permits, which clears an obstacle to Venture Global's expansion plan.

Venture Global Inc. slashed the marketed range for its initial public offering, bringing the potential valuation well below its $110 billion target.

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

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

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.