Karooooo Ltd. (Cartrack)

General Information
(IPOScoop has No Call on this deal because it is an uplift to the NASDAQ from the Johannesburg Stock Exchange (JSE). The ordinary shares of Karooooo’s subsidiary, Cartrack Holdings Ltd., trade under the symbol “CTK” on the JSE.)
We offer a comprehensive, cloud-based smart mobility platform for connected vehicles, including electric vehicles (EVs). 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. We were founded in 2001 in South Africa with an initial focus on stolen vehicle recovery in the region. We serve customers in 23 countries, supporting more than 1.3 million subscribers as of Feb. 28, 2021. **For the fiscal year ended Feb. 29, 2020, the company reported revenue of US$125.8 million and a profit of US$28.8 million. 
(Note: Karooooo Ltd. priced its NASDAQ uplift “IPO” on March 31, 2021, at US$28 – well below its reference price of US$47.42 – on 1.05 million ordinary shares, less than half of the company’s proposed offering of 2.5 million ordinary shares – to raise $29.4 million. Just before the pricing, the deal was restructured to remove the selling shareholder’s portion of another 1.5 million ordinary shares. In the initial filing, the deal was sized at 4.0 million ordinary shares at the US$47.42 reference price, to raise an estimated US$190.08 million, according to SEC filings.) 
Employees: 2776
Founded: 2001
Contact Information
Address 10 Anson Road #12-14 International Plaza Singapore 079903
Phone Number +65 6255 4151
Web Address http://www.karooooo.com/
View Prospectus: Karooooo Ltd. (Cartrack)
Financial Information
Market Cap $598.64mil
Revenues $125.8 mil (last 12 months)
Net Income $28.8 mil (last 12 months)
IPO Profile
Symbol KARO
Exchange NASDAQ
Shares (millions): 1.1
Price range $28.00 - $28.00
Est. $ Volume $29.4 mil
Manager / Joint Managers Morgan Stanley/BofA Securities/William Blair
Expected To Trade: 4/1/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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