Intel Sees Mobileye Unit IPO Valuation Under $20 Billion, Down From $50 Billion - WSJ

According to Corrie Driebusch from The Wall Street Journal, Intel (NASDAQ: INTC) expects a much lower valuation than previously expected in the initial public offering of its Mobileye Global Inc. self-driving car unit, which was originally expected to land approximately $50 billion valuation.

According to people familiar with the matter, now the target is under $20 billion. Some people said the company plans to sell a smaller number of shares than originally planned at a lower price, and hopes to drum up interest that will push up the shares after they start trading.

Intel, which acquired Mobileye in 2017 for $15.3 billion, filed for an IPO of the unit last month and is expected to detail its new valuation expectations Tuesday.

By Davit Kirakosyan

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