Benzinga | Mar 22, 2021 09:16AM EDT

Karooooo Announces Launch Of IPO Under Symbol KARO

Karooooo Ltd. ("Karooooo") today announced that it has launched the roadshow for the initial public offering of its ordinary shares. Karooooo is offering 2,500,000 of its ordinary shares and Isaias (Zak) Jose Calisto, Karooooo's chief executive officer (the "Selling Shareholder") is offering 1,500,000 of Karooooo's ordinary shares. In addition, the underwriters of the initial public offering will have an option to purchase up to an additional 600,000 ordinary shares from Karooooo. The price per ordinary share will be determined following the bookbuilding process. Karooooo has applied to list its ordinary shares on the Nasdaq Global Select Market under the symbol "KARO."