Travel tech firm Navan’s IPO raises about $923 million

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.