Intel's Mobileye sets IPO terms, which could value the company at up to $15.9 billion

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Intel's Mobileye sets IPO terms, valuing company at up to $16 billion

Intel Corp.'s INTC, +1.97% Mobileye Global Inc. has set terms for its initial public offering, in which the advanced driver assistance systems and autonomous driving technologies company looks to raise up to $820 million and be valued at up to $15.93 billion. Mobileye plans to offering 41.0 million Class A shares in the IPO, which is expected to price between $18 and $20 a share. After the IPO, the company expects to have outstanding 46.

26 million Class A shares, which are entitled to one vote each, and 750.0 million Class B shares, which are entitled to 10 votes each, with Intel owning all Class B shares. There are 24 underwriters, led by Goldman Sachs and Morgan Stanley. Intel's stock rose 0.8% in premarket trading. Mobileye is looking to go public at a time that the Renaissance IPO ETF IPO, +5.61% has dropped 10.2% over the past three months while the S&P 500 SPX, +2.65% has slipped 4.0%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

News Corp. stock up, Fox shares down as investors weigh possible mergerShares of News Corp. rose and shares of Fox Corp. fell after the companies said they were exploring whether to merge again.
Source: CNBC - 🏆 12. / 72 Read more »