Tech firm plans for flotation after review

The Irish technology firm FleetMatics is planning a flotation on the New York Stock Exchange or the Nasdaq in either August or September.

The US regulator, the Securities and Exchange Commission (SEC) is conducting a review of FleetMatics’ accounts and other financial transaction history before giving the green light for an initial public offering.

FleetMatics chose the US capital markets to float because the bulk of the company’s revenues are generated in the US, says chief marketing officer Karen Leavitt.