Liquefied natural gas (LNG) infrastructure company Excelerate Energy Inc. announced Wednesday it could net $361.9 million with the first major initial public offering (IPO) from a U.S. LNG company since the war in Ukraine began.

The Woodlands, TX-based firm said Tuesday that it priced 16 million shares at $24/share. The offering came in at the top of the $21-24 range the company had marketed the shares at. Trading began Wednesday on the New York Stock Exchange under the ticker symbol “EE.”

Excelerate also offered a 30-day option to its underwriters to purchase up to 2.4 million additional shares at the initial price. The IPO was launched at a time when Europe is scrambling to secure more natural gas supplies as it looks to gain independence from Russian imports, which have been...