Intel's self-driving car unit Mobileye said in a regulatory filing that it plans to issue 41 million shares at an issue price of $18 to $20 per share in the IPO. Class A common stock. At a cap of $20 per share, Mobileye plans to raise $820 million through the IPO.
In 2014, Mobileye went public on the New York Stock Exchange. Later, in 2017, Intel took Mobileye private for about $15.3 billion.
In March of this year, Intel announced that Mobileye had confidentially filed a draft Form S-1 registration statement with the U.S. Securities and Exchange Commission, and Mobileye planned to IPO again.
On October 1 this year, Mobileye submitted an IPO application to the US Securities and Exchange Commission and plans to list on the Nasdaq exchange under the ticker symbol "MBLY", with Goldman Sachs and Morgan Stanley serving as underwriters.
According to reports, Mobileye originally expected a valuation of around $50 billion. Later in mid-September, Intel expected the IPO to value Mobileye at $30 billion, lower than initially expected, people familiar with the matter said.
Recently, people familiar with the matter said that Intel plans to let Mobileye go public at a valuation far lower than previously expected. The company is targeting a valuation of less than $20 billion.
On Tuesday, Mobileye said the IPO was targeting a valuation of nearly $16 billion, a sharp drop from its initial estimate of $50 billion.
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