AdvertisementAdvertisementBusinessNavan web page is seen in this illustration taken, September 23, 2025. REUTERS/Dado Ruvic/Illustration11 Oct 2025 04:52AM (Updated: 11 Oct 2025 05:00AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST Corporate travel and expense company Navan said on Friday it is targeting a valuation of up to $6.45 billion in its U.S. initial public offering.The firm plans to raise $960 million by offering 36.92 million shares priced between $24 and $26 apiece.U.S. IPO activity has picked up in recent months following a lull caused by market volatility and trade policy uncertainty. Strong investor demand for new listings suggests a renewed appetite for risk.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 and SAP Concur.Goldman Sachs, Citigroup, Jefferies, Mizuho and Morgan Stanley are among the underwriters for the offering.Navan plans to list its shares on the Nasdaq under the symbol "NAVN".Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST