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.

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.

Founded in 2015 as TripActions by Ariel Cohen and Ilan Twig,

Navan initially focused on corporate travel management, aiming

to modernize services traditionally provided by companies such

as American Express ( AXP ) and SAP Concur.

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.

Over the years, Navan has expanded into corporate payments

and expense management, serving global clients including Zoom

Communications and Lyft, according to its

website.

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)