Car tech company Mobileye files for IPO

Car tech company Mobileye files for IPO; says in filing that it expects to raise $100 million

Associated Press

NEW YORK (AP) -- Israeli auto technology company Mobileye NV on Thursday laid out its plans for an initial public offering in the U.S.

Mobileye makes cameras and software used in cars to help them avoid crashes. Its technology is already used, or will be added, in vehicles made by major auto makers including Ford Motor Co., General Motors Co. and BMW.

For the purposes of its filing, Mobileye said that it could raise up to $100 million. That estimate is likely to change as bankers gauge investor interest. Mobileye plans to use the money raised for general corporate purposes.

It did not predict Thursday when the IPO would occur.

The company said it applied to have its shares listed on the New York Stock Exchange under the symbol "MBLY."

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