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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 $527 million.
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A device, part of the Mobileye driving assist system, is seen on the dashboard of a vehicle during a demonstration for the media in Jerusalem October 24, 2012. Mobileye, which makes technology to help drivers, expects sales to more than double every year for the next few years as car manufacturers look to offer more safety features and self-drive cars gain in popularity.
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