Shulou(Shulou.com)11/24 Report--

Mobileye Global, Intel's autopilot technology business, filed an initial public offering (IPO) on Friday, seeking to go public against the trend. At present, the US IPO market is facing its worst situation since the financial crisis more than a decade ago.

▲ Intel's self-driving business Mobileye will issue Class A shares on the Nasdaq Stock Exchange under the symbol "MBLY", with Goldman Sachs and Morgan Stanley acting as underwriters, according to Mobileye's filings with the Securities and Exchange Commission. The company did not disclose how many shares it plans to sell, but documents show that Mobileye will continue to be controlled by Intel after the IPO. Intel expects Mobileye to value its IPO at as much as $30 billion (213.5 billion yuan), below initial expectations.

If Mobileye IPO this year, it could be one of the largest listings in the United States in 2022. Since January 1 this year, only two companies have raised more than $1 billion on the New York Stock Exchange. This year, America's share of global IPOs has fallen from half in 2021 to less than 1/7.

Currently, Intel CEO Pat Kissinger (Pat Gelsinger) is looking to use Mobileye to turn around the company's core business. Mobileye, based in Israel, was acquired by Intel in 2017 to make chips for cameras and driving aids. The Mobileye is seen by Intel as a valuable asset at a time when the auto industry is racing to switch to fully self-driving cars.

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