Karooooo Ltd. (KARO) Plans to Raise $190 Million in March 31st IPO

Karooooo Ltd. (KARO) plans to raise $190 million in an initial public offering (IPO) on Wednesday, March 31st, IPO Scoop reports. The company plans to issue 4,000,000 shares at $47.52 per share.

Morgan Stanley, BofA Securities and William Blair served as the underwriters for the IPO.

Karooooo Ltd. provided the following description of their company for its IPO: “Cartrack is a leading global provider of real-time mobility data analytics solutions for smart transportation. Our principal executive office is located at 11 Keyes Avenue, Rosebank, Johannesburg, 2196, South Africa. Our telephone number at this location is +27 11 250 3000. We offer a comprehensive, cloud-based smart mobility platform for connected vehicles and other assets. Our software-as-a-service (“SaaS”) platform provides our 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. Our business is vertically-integrated, which affords us complete autonomy with regards to the development of the capabilities and features that differentiate our applications as well as the speed of our innovation. Since we own and control every aspect of our smart device design, platform innovation and software application development, client acquisition and onboarding, customer service and the management of our back-end support, we are able to move quickly without any significant third-party dependencies and inefficiencies. We serve customers in 23 countries across five continents, supporting more than 1.3 million subscribers as of Feb.28, 2021. “.

Karooooo Ltd. was founded in and has employees. The company is located at 10 Anson Road #12-14 International Plaza Singapore 079903 and can be reached via phone at +65 6255 4151.

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