IPO for Singapore-Based Telematics Provider Karooooo (KARO) Opens 4% Higher

Today's IPO for Singapore-based telematics provider Karooooo Ltd (NASDAQ: KARO) opened for trading at $29 after pricing $28 per share.

Morgan Stanley and BofA Securities are acting as lead book-running managers for the proposed offering. William Blair is acting as book running manager, and Canaccord Genuity, Raymond James and Stifel are acting as co-managers for the proposed offering.

Karooooo, headquartered in Singapore, is a leading global provider in the telematics industry that offers real-time mobility data analytics solutions for smart transportation. Karooooo serves customers in 23 countries across five continents, supporting more than 1.3 million subscribers as of February 28, 2021

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