GPS tech company set for $123m IPO

Shareholders in the Irish-headquartered FleetMatics are set to partake in the company’s $123m (€95m) IPO on the New York Stock Exchange.

GPS tech company set for $123m IPO
Tue, 25 Sep, 2012 - 01:00
Vincent Ryan

The company, which offers GPS fleet tracking software to small and medium-sized businesses that own fleets of commercial vehicles, will be selling 7.7m ordinary shares for between $15 and $17 in the IPO.

The company will be selling 6.2m ordinary shares, while a number of existing shareholders will sell 1.5m ordinary shares.

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