Travel Software Firm Navan, Holders Seek $960 Million in US IPO

Navan Inc., a business travel and expense management software maker, and some of its shareholders are seeking to raise as much as $960 million in an initial public offering, moving forward with a listing despite the US government shutdown.

The Palo Alto, California-based company plans to market shares for $24 to $26 each, according to its filing Friday with the US Securities and Exchange Commission. The company is offering 30 million shares and shareholders including Navan’s co-founders, Chief Executive Officer Ariel Cohen and Chief Technology Officer Ilan Twig, are selling 6.9 million shares in aggregate.

That compares with ...