MENU

Mobileye files for IPO

Business news |
By Rich Pell


Intel has announced that its autonomous driving technology subsidiary Mobileye has publicly filed for a proposed initial public offering (IPO) of its Class A common stock. Mobileye, which makes chips, maps, and software for self-driving cars, has reportedly seen revenue growth of $879 million in sales in 2019, to $967 million in 2020, to $1.39 billion last year.

Intel acquired the company for $15.3 billion in 2017 and had previously announced plans to take Mobileye public this year. The company has also indicated that it would use some funds from the Mobileye listing to build more semiconductor fabs as it looks to become a foundry for other chipmakers.

The timing, number of shares to be offered and the price range for the proposed offering have not yet been determined. Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers for the proposed offering.

Evercore ISI, Barclays, Citigroup, BofA Securities, RBC Capital Markets, Mizuho, Wolfe | Nomura Alliance and BNP PARIBAS will act as book-running managers for the proposed offering. Cowen, Siebert Williams Shank, PJT Partners, MUFG, Needham & Company, Raymond James, Loop Capital Markets, Blaylock Van LLC, Academy Securities, Drexel Hamilton, Independence Point Securities LLC, CICC, Cabrera Capital Markets LLC and Guzman & Company will act as co-managers for the proposed offering.

Mobileye intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “MBLY.”

Intel
Mobileye


Share:

Linked Articles
Smart2.0
10s