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Highlights:
- Mobileye IPO could be one of Intel's strategies to turn around its primary business operations.
- Founded in 1999, Mobileye was started by Professor Amnon Shashua in Israel, and Intel bought it for approximately US$ 15.3 billion in 2017.
- Mobileye IPO could gain traction as its clients include BMW, Nissan, Honda, Audi, Volkswagen, and General Motors.
Mobileye, the self-driving car unit of Intel Corporation (NASDAQ:INTC), has reportedly filed for an initial public offering on Monday, March 7.
Some reports have claimed that the maker of systems of autonomous cars has confidentially filed paperwork with the regulatory authorities, setting the stage for one of the biggest public debuts in 2022.
Mobileye IPO could be one of Intel's strategies to turn around its primary business operations. Over the years, the craze for self-driving cars has increased. Traditional carmakers like Ford Motor, Toyota Motor, and others are investing in getting features like self-driving and driver-assist to their car models.
Intel could aim to lure investors interested in new technologies and take advantage of the rapidly growing demand for self-driving cars.
Intel's Mobileye IPO: Here's what we know so far
It is uncertain when the company will reveal the details of the IPO. However, it appears that Intel could test the equities markets at a time when the demand for IPOs has reduced drastically in comparison to the previous year.
Details like the price range, quantity of shares, and when will the listing happen are not out yet. Such information will be available when the Securities and Exchange Commission releases the prospectus filed by Mobileye.
Intel is expected to receive the majority of the gross proceeds from the public debut, and it could use the funds to develop more Intel chip plants.
Earlier, it was expected that Mobileye could value more than US$ 50 billion at the time of IPO. However, this figure might change due to market volatility.
Also Read: Porsche IPO: Can Canadian investors buy the automaker's stock?
For now, retail investors will have to wait for the company prospectus to know more on how to buy the pre-IPO stock of Mobileye as it could contain that information.
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Bottom line
Founded in 1999, Mobileye was started by Professor Amnon Shashua in Israel, and Intel bought it for approximately US$ 15.3 billion in 2017.
Mobileye’s systems use camera-centric configurations in self-driving cars and features like adaptive cruise control and lane change assistance.
Mobileye IPO could gain traction as its clients include BMW, Nissan, Honda, Audi, Volkswagen, and General Motors. All of the automakers are reputed and sell millions of cars worldwide.
Also Read: Why is Ocugen (OCGN) stock soaring? Here's what you must know
Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
