Bloomberg: IPOX® CEO Schuster on Venture Global’s downsized IPO
IPOX® CEO Josef Schuster was recently featured in a Bloomberg News article, "Venture Global’s $45 Billion Valuation Downsize Jolts IPO Market", offering his perspective on the liquefied natural gas (LNG) exporter, which drastically slashed its expected IPO valuation by around $45 billion.
Josef stated in the article that this reduction indicates a “potential mismatch” between expectations and market demand. As quoted in Bloomberg, he stressed that investors are going to remain disciplined and will scrutinize deals, and will demand realistic valuations before committing capital, especially for companies without a public track record.
The article also notes that despite this valuation reset from Venture Global, there's still optimism for the broader US IPO market in 2025. Bloomberg points to expectations of several large, "blockbuster" IPOs and highlights the recent positive performance of some newly listed companies as reasons for this optimism. However, Josef's commentary serves as a crucial reminder that this optimism is tempered by a new era of investor caution and a focus on value. Regarding Venture Global's valuation specifically, Josef was quoted saying, “It’s basically an energy firm at a unicorn valuation,” and further explained, “The current price aligns more closely with our analytical assessments but still with an about 15% premium.” This highlights his view that the revised valuation is a necessary correction towards market reality and comparable publicly traded companies.
Read the full Bloomberg article here:
https://blinks.bloomberg.com/news/stories/SQI1QVT1UM0W
(Only available to Subscribers of Bloomberg Terminal)
