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

"The Trump administration has made very clear they support growing LNG exports," Venture CEO Mike Sabel told CNBC in an interview Friday.

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?

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.

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.

At $23 a share — the new low end of Venture Global’s IPO price range — the company would be valued at about $56bn, on par with Cheniere Energy, the largest LNG producer and exporter in the US.

Venture Global LNG was forced to nearly halve the valuation it is seeking in its U.S. initial public offering (IPO) after investors balked at the company's estimated long-term profit for liquefying gas for export,

Venture Global slashes IPO valuation by 40%, facing investor concerns over long-term profit outlook for LNG production.

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

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,