Israel’s Mobileye starts road show for $500 million NYSE IPO




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JERUSALEM – Mobileye N.V., which makes software and cameras that help cars avoid accidents, said Monday it has launched a road show for its U.. initial offering of around $500 million.

The Israeli based will sell 27.75 million – 8.325 million by Mobileye itself and another 19.425 million by the selling shareholders.

Mobileye said it expects the IPO the New York Stock to at $17 to $19 a share and list the symbol MBLY. That would bring in proceeds of $472 million to $527 million.

The selling shareholders have also granted the underwriters an option to purchase 4.16 million additional to cover any over-allotments.

Goldman Sachs and Morgan Stanley are lead underwriters.[eap_ad_2]

The collision-avoidance technology is used in than 3 million vehicles made by the likes of BMW and General Motors.

Mobileye’ systems include a windshield-mounted camera that takes pictures of what is in front of the driver. The images are processed and, in real-time, a small device the dashboard gives the driver audio-visual warnings.

Amnon Shashua, the firm’s , and Ziv Aviram, its chief executive, each own 9 percent in the .

Mobileye’s other top shareholders include Goldman Sachs Group Inc, Fidelity Investments, BlackRock, and Enterprise Holdings, the No 1 U.S. rental company.

Mobileye’s revenue doubled to $81.2 million for the year ended Dec. 31. The company swung to a of about $20 million in the year from a loss of $53 million a year earlier.[eap_ad_3]