Navan set to open higher in Nasdaq debut after $923 million IPO

** Shares of travel tech firm Navan (NAVN.O) indicated to open 5.6% above their offer price in their Nasdaq debut

** Stock likely to open at $26.4 vs $25 IPO price, giving NAVN a potential valuation of nearly $7 billion

** NAVN and some of its existing shareholders sold 36.9 million shares at the midpoint of the marketed range of $24 to $26 per share to raise $923 million

** Goldman Sachs and Citigroup were lead book-running managers for the offering

** IPO market set for burst of activity over the next fortnight after a relatively quiet October as U.S. government shutdown drags on

** "Long term, I don't think the shutdown will affect the IPO market. In the short term, it is likely that we will see a pause that will last for at least a month or two after the shutdown ends, as the SEC reviews all the filings that were made before or during the shutdown," says Edward Best, co-chair of the Capital Markets practice at Willkie Farr & Gallagher