Mobileye sets IPO price range, aims for $3.6B-$4B valuation

|About: Mobileye (MBLY)|By:, SA News Editor

Mobileye (Pending:MBLY) has set a $17-$19 IPO price range. That spells a valuation range of $3.61B-$4.03B. (prospectus)

The Israeli provider of camera-based driver assistance systems is looking to raise $141M-$158M by selling 8.3M new shares. Another 19.4M will be sold by existing holders.

Mobileye's systems rely on proprietary algorithms and image-processing SoCs (the EyeQ line). Supported applications include collision and lane departure warnings, adaptive cruise control, high beam control, and traffic sign recognition. Clients include Ford, GM, Nissan, Honda, Audi, and Tesla, as well as aftermarket hardware vendors.

With Mobileye having posted 2013 revenue of $81.2M (+101% Y/Y), the company is looking to trade at a steep 47x 2013 sales at the midpoint of its range. The company had 2013 net income of $19.9M.