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Travel tech firm Navan set for Nasdaq debut after $923 million US IPO
(Reuters) -Navan is set to make its Nasdaq debut later on Thursday, after the travel technology company raised $923 million in its listing and successfully navigated a U.S. government shutdown to go public.
Momentum in âthe U.S. IPO market, which had picked up pace in the second half of the year after a years-âlong lull, stalled at the start of October when the U.S. markets regulator furloughed staff and paused the review of filings.
The Securities and Exchange Commission later eased restrictions,â allowing companies to proceed with listings during the shutdown, prompting firms such as Navan to capitalize on a record run in the equity markets and a renewal in investor risk appetite.
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