PDX - PDX: The Big Move And Additional Catalysts

2025-01-15 10:02:55 ET

Summary

• PDX holds a significant stake in Venture Global, which is planning an IPO to raise $2-2.3bn with a $110bn valuation.
• Venture Global's innovative modular construction approach could expedite and reduce costs for its planned LNG export terminals in Louisiana.
• We go through the math of the PDX position in Venture Global private Class A shares.
• Despite the Venture Global share valuation uplift, PIMCO's NAV discount widened from 2% to 7%.
• We highlight further catalysts to the stock.

...

For further details see: