Intel Moves Forward With Mobileye Self-Driving Car Unit IPO Plans
Intel Corporation. is moving forward with plans to publicly list shares of its self-driving car unit Mobileye, giving a boost to the IPO market that has been under pressure this year due to stock market turmoil.
Mobileye said Friday it filed its IPO with the Securities and Exchange Commission. The company did not give an expected size for its IPO, nor an anticipated price range. Last year, the Wall Street Journal reported that Mobileye could reach a valuation north of $50 billion, citing people familiar with the matter, although this came before the IPO market had softened these last months.