LNG exporter Venture Global on Wednesday slashed the valuation it was seeking from its U.S. initial public offering to as much as $65.33 billion, significantly lower than the more than $100 billion it had initially aimed.

Venture Global Inc. slashed the marketed range for its initial public offering, lowering the market value it could fetch.

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.

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