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Intel Corp.’s (INTC) autonomous vehicle unit Mobileye Global Inc.’s initial public offering (IPO) was priced at $21 a share, a dollar above the high end of its guidance range, according to people familiar with the matter.
Mobileye raised $861 million by selling 41 million shares, valuing the company at about $17 billion, people familiar with the matter said. That’s more than the $15.3 billion Intel paid for Mobileye in 2017, but a far cry from the chip giant’s initial target of $50 billion or more when it unveiled plans to go public late last year.
The Wall Street Journal previously reported that Intel is expected to price Mobileye at the upper end of the $18-$20 per share range or higher.
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