Intel's Mobileye IPO Eyes Significantly Lower Valuation - Report

Highlights
Intel Corp is eyeing a valuation that is significantly lower than previously expected for the initial public offering of its self-driving car unit Mobileye, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Mobileye, which was originally expected to land a roughly $50 billion valuation, is now set to target one of under $20 billion and sell a smaller number of shares than originally planned, according to the report.
Intel declined to comment.
The lower valuation underscores the downturn in the market for new listings, with the tech IPO market facing its worst drought in nearly two decades.
Mobileye, which late last month unveiled its filing for a U.S. IPO with plans to list shares on Nasdaq under the ticker "MBLY", is still aiming for the shares to begin trading on Oct. 26, WSJ reported.
Mobileye plans to launch its roadshow for prospective investors on Tuesday, a day later than anticipated, according to the report.
Intel is slated to report its third-quarter results on Oct. 27, when the chipmaker is expected to post a drop in revenue, according to Refinitiv data, following a slump in the personal computer market and supply-chain snarls.
Intel will keep most of the money from the Mobileye IPO and use some of those funds to build more chip plants, Chief Executive Pat Gelsinger said last year.
Founded in 1999, Mobileye counts BMW, Audi, Volkswagen, Nissan, Honda and General Motors as its clients. Intel bought the company for about $15.3 billion in 2017.
Great Deals on Used Cars
View All Used Cars
- 35,249 km
- Petrol
- Manual

- 88,000 km
- Diesel
- Automatic

- 8,000 km
- Hybrid
- Automatic

- 53,763 km
- Petrol
- Manual

- 24,110 km
- Diesel
- Automatic

- 72,000 km
- Diesel
- Automatic

- 20,156 km
- Electric
- Automatic

- 64,000 km
- Petrol
- Manual

- 65,000 km
- Petrol
- Manual

- 85,000 km
- Hybrid
- Automatic
Upcoming Cars










Upcoming Bikes










Explore More
Latest News
Related Articles

-18627 second ago
Owners can avail of these services until December 31, 2023.

-13942 second ago
Special services also include complimentary towing, expedited insurance claims and repairs, and special offers on new vehicles in case the car is a total loss.

-12165 second ago
The S1 X+ comes with a 3 kWh battery pack and has a claimed range of up to 151 km.

11 hours ago
The latest iteration gets a slew of updated features and mechanical upgrades.

13 hours ago
The brand is offering free service support through its dealer network in Chennai and other affected areas.

14 hours ago
Toyota and its dealer partners have set up a special emergency helpline number and have a deployed the Hilux pickup for rescue and movement of submerged vehicles

17 hours ago
Starting from December 8, 2023 customers affected by the flash floods can avail free RSA, engine check-ups and other service benefits at the Yamaha service centers

18 hours ago
MG Motor India has introduced a December Fest sale with sizable benefits across its lineup with offers valid until December 31

18 hours ago
Ducati said that the price increase was due to a rise in operational costs and will affect select motorcycles on sale

-925450 second ago
Replying to customer concerns about S-Presso's safety standard, post the Global NCAP crash results, Suzuki Auto South Africa's official handles have commented on social media saying that the model sold there are safer than the ones sold in India.

-667810 second ago
Mahindra has finally announced the name of its highly-anticipated S201 and we now know that it is called the XUV300. The XUV300 will be launched in February 2019. The SUV will be based on the SsangYong Tivoli and is Mahindra's third SUV in the subcompact segment after the Nuvosport and the TUV300. The company targets a whole new set of audience with the introduction of this one and hence there's a lot of effort gone into the design as also adding comfort to the consumers.

5 days ago
Images of the next-generation Hyundai i20 have recently surfaced online, and this time around a couple of prototypes of the car have been spotted testing in India. Unlike the previously seen spy photos of the new-gen Hyundai i20, which features alloy wheels, the cars in these latest images are running on steel wheels with hub caps, but we do get a much closer look at the front section of the car.

6 days ago
Prices for the Aprilia RS 457 could be announced at India Bike Week 2023, while deliveries are likely to begin from early 2024 onwards
