6 October
Intel has lowered Mobileye IPO valuation to $ 20 billion
Intel believes its self-driving car division Mobileye Global Inc. will be priced significantly lower than previously estimated during its initial public offering, as reported by Corrie Dribush from The Wall Street Journal. Initially, Mobileye Global Inc. was expected to be valued at about $50 billion.
At the moment, the target value is below the $20 billion mark. There are opinions that the company plans to sell fewer shares than originally planned, at a lower price. Probably, by this action, the company wants to increase interest in its shares, in connection with which they are able to rush up after the start of trading.
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