FleetCor Technologies, a global provider of electronic payment cards to commercial fleets and oil companies, announced terms for its IPO on Tuesday. The Norcross, GA-based company plans to raise $311 million by offering 12.7 million shares at a price range of $23-$26. At the mid-point of the proposed range, FleetCor Technologies will command a market value of over $2 billion. FleetCor Technologies, which was founded in 1986 and booked $425 million in sales for the 12 months ended September 30, plans to list on the NYSE under the symbol FLT. J.P. Morgan and Goldman, Sachs & Co. are the lead underwriters on the deal, which is expected to price during the week of December 13.
