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Oct 30 (Reuters) - Corporate travel and expense company Navan on Wednesday priced its initial public offering at $25 per share, within its marketed range of $24 to $26 per share, raising about $923.1 million and reinforcing a strong momentum for fresh flotations. The Palo Alto, California-based firm sold 30 million shares to raise $750 million, while existing stockholders sold about 6.9 million shares to raise the remaining amount. Sign up here. The offering gives the company a potential valuation of $6.21 billion, according to Reuters calculations. In 2022, the company raised $300 million in a Series G funding round, achieving a valuation of $9.2 billion. While the U.S. government shutdown has caused some short-term delays, analysts and executives have hailed the rebound of fresh issues and said that it sets the stage for a meaningful pickup in activity in the coming quarters. Travel demand has rebounded from a tariff-related downturn earlier this year, with major airline executives expressing optimism about the industry's ability to increase fares later this year. Navan will list its shares on the Nasdaq Global Market on Thursday under the ticker symbol NAVN. Goldman Sachs, Citigroup, Jefferies, Mizuho and Morgan Stanley are among the underwriters for the offering. Reporting by Pritam Biswas and Disha Mishra in Bengaluru; Editing by Mrigank Dhaniwala
