Venture Global's IPO Flop Worsens as Shares Slump 20% From Debut
The fallout for Venture Global Inc., in the wake of a troubled initial public offering, accelerated amid a market selloff that sapped $12 billion from its valuation on debut.
Shares of the liquefied natural gas exporter tumbled 17% on Monday, bringing its losses to 20% from its $25 apiece offer price last week. The company's choppy start as a publicly-traded company came after it slashed the IPO price range by more than 40% after investors approached during the marketing wanted a lower range.
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