Intel eyes under $20B valuation for Mobileye unit in IPO - report
Jan Hetfleisch


Intel (NASDAQ:INTC) has cut valuation for its upcoming initial public offering of its self-driving car unit Mobileye Global (MBLY) as it's 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 an 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 filing followed a drastic cut to the expected valuation for the unit, to about $30B from a previously hoped-for $50B.
In March, Intel (INTC) said that it had confidentially submitted its draft registration statement with the Securities and Exchange Commission for the IPO.