mobileyes ceo amnon shashua poses with a mobileye driverless vehicle at the nasdaq market site in new york july 20 2021 intel s selfdriving subsidiary mobileye is targeting an ipo that would value it at nearly 16 billion intel said it expects shares to be priced between 18 and 20 per share in a filing on tuesday the valuation which is lower than earlier reports is the latest sign that the ipo market has significantly cooled as interest rates rise and investors prepare for a potential recession mobileye shares will be traded on the nasdaq the nasdaq composite is down over 32 so far this year intel aims to raise as much as 820 million which it will use for working capital and corporate purposes it said in the filing intel will retain control of mobileye it will hold over 750 million shares of class b stock which have 10 times the voting power of class a stock class a stock is what investors will buy in the ipo intel expects there to be 4626 million shares class a shares outstanding with the potential for more depending on if the underwriters decide to exercise their option to buy additional shares in total intel expects there to be 79626 million shares of mobileye outstanding that if priced at 20 at the highend of the range would give the selfdriving division a valuation up to 159 billion intel bought israelbased mobileye for 153 billion in 2017 mobileye founded in 1999 builds chips hardware and software for selfdriving cars and advanced safety features like lanekeeping and driver assistance intel is currently going through a transformation in its core business of making computer chips its building additional factories to become a manufacturer for other companies but building and outfitting new fabs is capital intensive mobileye has partnerships with automakers such as audi bmw and volkswagen and its technology is currently in 800 vehicle models it said in the filing the filing shows strong revenue growth for mobileye from 879 million in sales in 2019 to 139 billion last year intel stock fell over 2 during trading on tuesday