JERUSALEM, July 21 Mobileye N.V., which makes
software and cameras that help cars avoid accidents, said on
Monday it has launched a road show for its U.S. initial public
offering of around $500 million.
The Israeli based company will sell 27.75 million shares -
8.325 million by Mobileye itself and another 19.425 million by
the selling shareholders.
Mobileye said it expects the IPO on the New York Stock
Exchange to price at $17 to $19 a share and list under the
symbol MBLY. That would bring in proceeds of $472 million to
The selling shareholders have also granted the underwriters
an option to purchase up 4.16 million additional shares to cover
Goldman Sachs and Morgan Stanley are lead underwriters.
The company's collision-avoidance technology is used in more
than 3 million vehicles made by the likes of BMW and
Mobileye's 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 on the dashboard
gives the driver audio-visual warnings.
Amnon Shashua, the firm's chairman, and Ziv Aviram, its
chief executive, each own 9 percent in the company.
Mobileye's other top shareholders include Goldman Sachs
Group Inc, Fidelity Investments, BlackRock, and
Enterprise Holdings, the No 1 U.S. car rental company.
Mobileye's revenue doubled to $81.2 million for the year
ended Dec. 31. The company swung to a profit of about $20
million in the year from a loss of $53 million a year earlier.
(Reporting by Steven Scheer)