- BySeeking Alpha-
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Karooooo (KARO) priced its 1.05M shares IPO at $28/share forgross proceeds of~$29.4M.
Karooooo Ltd. is a Singapore-based company that operates through its subsidiary Cartrack Holdings Limited (Cartrack). Cartrack is a global provider of real-time mobility data analytics solutions for smart transportation. The Company offers a cloud-based smart mobility platform for connected vehicles and other assets. Its software-as-a-service (SaaS) platform provides customers with differentiated insights and analytics to optimize their business and workforce, increase efficiency and decrease costs, improve safety, monitor environmental impact, assist with regularity compliance and manage risk. Its SaaS platform acts as a central nervous system for connected vehicles and other mobile assets, such as construction equipment, generators, refrigeration units, trailers and boats. The Company serves customers in approximately 23 countries across five continents, supporting more than 1.3 million subscribers.