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Auto camera maker Mobileye starts road show for $500 million IPO

Image Credit: Mobileye

The energy around auto tech has surged in recent years, as consumer infotainment and safety gadgetry has found its way into cars.

One company, on the safety tech side, has started the traditional pre-IPO tour soon-to-be public companies do, to talk to press and investors and to drum up buzz.

Israel-based Mobileye makes a series of windshield-mounted cameras that provide a warning (via a dash-mounted display) if it appears that an accident is eminent. The technology is already used in more than 3 million vehicles made by BMW, General Motors, and others.

Mobileye says it plans to sell 27.75 million shares on the New York Stock Exchange (NYSE) at a price of $17 to $19 a share under the ticker “MBLY.” At that share price, the IPO would bring in somewhere between $472 million and $527 million.

Goldman Sachs and Morgan Stanley are lead underwriters.

Goldman Sachs Group, Fidelity Investments, BlackRock, and Enterprise Holdings already own equity in the company.

Mobileye lost $53 million in 2012 but doubled its revenues in 2013 ($81.2  million) and showed a $20 million profit for that year.

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