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

Sina Technology News Beijing time on October 26 morning news, according to sources, Intel's self-driving technology company "Mobileye Global" initial public offering, raised a total of 861 million US dollars. The timing of the company's listing is unusual, and the recent volatility in the US capital markets has led many new companies to cancel their listing plans.

According to a number of sources, Mobileye has issued a total of 4100 shares at a price of $21 per share. As the company has not officially announced the news, these sources are temporarily unwilling to disclose their identities. Previously, Mobileye had announced a price range of between $18 and $20.

Based on the final offering price, Mobileye is valued at $16.7 billion. Intel had hoped that Mobileye would achieve a high valuation of $50 billion.

It is reported that in the initial public offering of a new company in the United States, the company will sell 10% to 20% of its stake to investors, but Mobileye has only sold a small part of its stake this time. Due to the low valuation and the limited number of shares sold, the various size indicators of Mobileye's listing are also limited.

So far, Mobileye officials have not commented.

The US IPO market is at one of its all-time lows, and the total amount of initial public offerings raised by new companies this year will be the lowest in the past 20 years, according to Dealogic, a specialist company that tracks US capital market IPO data.

The Renaissance IPO index, which tracks u.s. initial public offerings, has tumbled 51.3% this year, while the u.s. s & p 500 is down 19.54%.

The Cboe volatility Index, which measures the fear of Wall Street investors, has recently stayed at 29. Traditionally, the index is above 20, indicating that Wall Street investors have become seriously anxious about the recent performance of the US stock market.

This year, many companies have cancelled their plans for initial public offerings due to severe fluctuations in the US capital market. As recently as October, Instrcart, an American purchasing agency that runs errands, cancelled its plan to go public within this year.

Regarding Mobileye's choice to go public at this special time, Intel CEO Henry Kissinger explained that this listing is of great significance to Mobileye and can "bring the company to the market."

According to Mobileye's filing with the Securities and Exchange Commission, Intel will still hold a large stake in Mobileye in the future, including all Class B common shares that the subsidiary intends to issue in the future. It is reported that, according to the design, each of Mobileye's Class B common shares has the same voting rights as 10 Class A common shares.

In the first half of the fiscal year, Mobileye generated a total of $854 million in sales, an increase of 21% over the same period last year. However, the company continued to lose money, with a total loss of $67 million in the first half.

It is worth mentioning that this is not the first time that Mobileye has gone public. The company was valued at about $5 billion when it first went public in 2014, but in 2017 it was acquired wholly by Intel, which coveted the self-driving car market.

On Wednesday, local time, Mobileye's shares will be traded on the Nasdaq stock market under the symbol "MBLY".

It is reported that Goldman Sachs and Morgan Stanley served as lead underwriters in this initial public offering.

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