Fleetmatics Group sets range at $15-$17 for $125 million IPO


Fleetmatics Group, a leading SaaS provider of fleet management solutions, announced terms for its IPO on Monday. The Dublin , Ireland-based company plans to raise $125 million by offering 7.8 million shares (20% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Fleetmatics Group would command a fully diluted market value of $588 million. Fleetmatics Group, which was founded in 2004 and booked $108 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol FLTX. BofA Merrill Lynch and Barclays are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: News Headlines , IPOs

Referenced Stocks: FLTX

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