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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (15241)	1/26/2023 9:53:47 AM
From: Kirk ©	1 Recommendation Recommended By Sr K Read Replies (1) \| Respond to of 26408

More about the Mobileye IPO So if they raised $861M by selling shares at a $17B valuation, a quickie calculation says they sold about 5.1% held on to about 94% of the shares if you allow for the extra shares to investment bankers, etc. cnbc.com Shares of self-driving car technology company Mobileye climbed in their first day of trading on Wednesday after Intel sold stock to the public. Intel bought the Israeli company for $15.3 billion in 2017, and said it would use proceeds from the IPO to build more chip factories. The IPO valuation of about $17 billion was far below Intel’s earlier expectations. Intel will retain control of Mobileye and hold over 750 million shares of Class B stock, which has 10 times the voting power of Class A stock The IPO raised $861 million, and the move to list Mobileye on the Nasdaq is part of Intel’s broader strategy to turn around its core semiconductor business, which has lagged behind rivals like AMD and Nvidia in recent years. Intel said it would use some funds from the Mobileye listing to build more chip factories as it embarks on a capital-intensive process to become a foundry for other chipmakers.