The stock market trading debut comes as incoming President Trump has said he plans to boost America’s energy production. Update Friday, 3:30 p.m.

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.

Venture Global's IPO represents a test for investor appetite for fossil fuel projects in the Trump administration.

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.

Venture Global LNG has raised $1.75 billion after pricing its U.S. initial public offering within range, the second-largest exporter of liquefied natural gas in the United States said on Thursday. The company priced its offering of 70 million shares at $25 each,

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, the second-largest exporter of liquefied natural gas in the United States, has raised $1.75 billion, marking the first

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

It sold 70 million shares to raise $1.75 billion on Thursday, selling the stock at $25 compared to its offer price of $23 to $27. This was a far cry from its initial plan to raise as much as $2.3 billion by selling at $40 to $46.

Twelve years ago, investment banker Mike Sabel and Big Law partner Bob Pender walked away from their careers and made a bold bet on the then-nascent LNG industry. Driving door-to-door across Texas in a rented Chevy,