Replies to post #26731 on The Rising Influence of Rising Affluence

[DewDiligence]

INTC IPOs MBLY @$21/sh—valuing Mobileye at ~$17B:

https://www.wsj.com/articles/intel-prices-widely-anticipated-ipo-for-self-driving-car-unit-mobileye-11666736996

That is more than the $15.3 billion Intel paid for Mobileye in 2017 but a far cry from the $50 billion or more that the chip giant originally set its sights on when it unveiled plans for the listing late last year.

…Driverless-car technology was in hot demand several years ago, but that has cooled. Mobileye faces stiff competition, including from Google parent Alphabet Inc.’s Waymo and Amazon.com Inc.’s Zoox.

…To get the deal done, Intel adjusted its offering, selling fewer shares than planned—representing only about 5% to 6% of those that will ultimately be outstanding.

…Mobileye is set to start trading Wednesday on the Nasdaq stock exchange under the symbol MBLY.