Fleetmatics Group Ltd announces IPO
(Edit this deal
|Total Cash Raised :
||Aug 21, 2012
FleetMatics offers GPS fleet tracking software to small and medium-sized businesses that own fleets of commercial vehicles.
FleetMatics intends to use part of the proceeds to pay down debt, fund its marketing activities and for working capital needs, the company said in a filing with the U.S Securities and Exchange Commission.
The company, whose rivals include Trimble Navigation Ltd , plans to list its ordinary shares on the New York Stock Exchange under the symbol "FM."
BofA Merrill Lynch, Barclays Capital, RBC Capital, Stifel Nicolaus and William Blair are the underwriters for the offering.
The filing did not reveal how many shares the company planned to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
|IPO Lead Underwriter:
||BoA Merrill Lynch and Barclays