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

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.

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 producer Venture Global slashed the proposed range for its IPO on Wednesday, lowering the valuation it sought to ~$65B from the initial target of $110B at the top of the previous range.

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.