(Reuters) - LNG exporter Venture Global lowered the offer price for its initial public offering in the U.S. on Wednesday, effectively increasing the number of shares it plans to sell and targeting a valuation of as much as $65.33 billion. It now aiming 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

LNG producer Venture Global has scaled back the valuation it is seeking in its initial public offering (IPO) by about 41% after investors were hesitant in response to the company’s previous plans for the listing. Venture Global had initially been seeking a valuation of up to $110bn under a plan to issue 50mn shares for $40-46 per share. However, in a January 22 filing with the US Securities and Exchange Commission (SEC), this was revised to 70mn shares, priced at $23-27 per share, for a valuation of up to $65bn.

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

By Echo Wang (Reuters) - Venture Global LNG is preparing to cut the proposed price range for its blockbuster initial public offering and increase the number of shares it may sell to investors, a source with direct knowledge of the matter said on Tuesday. Under the revised IPO plan under consideration, Venture Global would still raise a similar amount from investors, but the lower prospective