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Fleetmatics launches IPO on Nasdaq

Friday, October 05 07:43:24

Dublin based technology company Fleetmatics has just announced the pricing range for the initial public offering of its shares on the Nasdaq in New York. Fleetmatics software helps companies track and manage their fleets of vehicles using satellite technology.

Shares in the company are going to be offered to the public at $17 each. That is the higher end of the $15 to $17 range the company had indicated in its offer documents ahead of its stock market listing. The market flotation will see the company raise about $133m (E102m) and the shares will begin trading on the Nasdaq this afternoon.

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