Oct 4 (Reuters) - Ireland’s FleetMatics Group Ltd priced its initial public offering of 7.8 million ordinary shares at $17 each, raising $133 million, an underwriter told Reuters.
The pricing is at the high end of the company’s expected range of between $15 and $17 per share.
FleetMatics, whose rivals include Trimble Navigation Ltd , offers GPS fleet tracking software to small and medium-sized businesses that own fleets of commercial vehicles.
The company said its ordinary shares have been approved for listing on the New York Stock Exchange under the symbol “FLTX.” The company had earlier intended to list under the symbol “FM.”
BofA Merrill Lynch, Barclays Capital, RBC Capital, Stifel Nicolaus and William Blair are the underwriters for the offering.