MiX Telematics, the home of Matrix vehicle tracking, will offer 110 million ordinary shares to the Bank of New York Mellon and will list 4.4 million American depositary shares on the New York Stock Exchange. It said yesterday the US shares each represented 25 ordinary shares in the company and would be placed with foreign investors at $16 (R158) a share, “which equates to a specific issue price per new MiX Telematics share of R6.33 using the rand-dollar exchange rate of R9.8878 to $1, being the rate… at August 8, 2013”. The shares issued to the Bank of New York Mellon will be listed on the JSE tomorrow The stock leapt 5.17 percent to R6.31 yesterday — Asha Speckman 

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