Intel files for Mobileye IPO

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Intel will retain control of the unit by keeping Class B shares, which carry 10 votes each, and selling Class A shares, which carry one vote each. It is not known how large-scale the proposal will be.

<p>Mobileye issued a $3.5 billion dividend note to Intel US, which it expects to pay from the proceeds of the sale.

Intel bought Mobileye for €15 billion in 2017 and says the IPO will value it at $30. billions

Last year, Mobileye posted a loss of US$75 million on revenue of US$1.39 billion. He lost $196 million in 2020 and $328 million in 2019. She has 774 million dollars.

Intel says it will use the proceeds from the IPO to reduce its debt and provide working capital.

After that, Pat Gelsinger will become the company's chairman. listing

There are 22 underwriters for the deal, including Goldman Sachs and Morgan Stanley, Evercore ISI, Barclays, Citigroup and B of A Securities.

Mobileye will trade under the symbol MBLY

Source: electronicsweekly.com

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