- Intel ( NASDAQ: INTC ) has cut it valuation for its upcoming initial public offering of it self-driving car unit Mobileye Global ( MBLY ) as it's to set to launch a roadshow for the IPO on Tuesday.
- Mobileye ( MBLY ) is targeting a valuation of under $20 billion after originally seeing a valuation of about $50 billion, according to a WSJ report, which cited people familiar. The Mobileye unit is also expected to sell a small number of shares than originally planed.
- Mobileye ( MBLY ) will debut the roadshow for on IPO on Tuesday, one day later than originally expected, according to the WSJ.
- The news comes after Mobileye Global ( MBLY ) filed for an IPO late last month. The IPO filling followed a drastic cut to the expected valuation for the unit, to about $30B from a previously hoped-for $50B.
- In March, Intel ( INTC ) that it had confidentially submitted its draft registration statement with the Securities and Exchange Commission for the IPO.
For further details see:
Intel eyes under $20B valuation for Mobileye unit in IPO - report