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

Venture Global LNG on Wednesday slashed the valuation it sought from a U.S. initial public offering to $65.33 billion, significantly lower than the initial target of $110 billion. The revision by the second-largest exporter of liquefied natural gas in the United States follows days of marketing to potential investors,

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

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