In a sharp display of the difficult state of the U.S. IPO market, Intel Corp. (NASDAQ:INTC) is now expecting to raise a much lower valuation for its self-driving car unit, Mobileye, than it anticipated earlier. The Wall Street Journal reported, citing people close to the developments, that the valuation might be below $20 billion upon listing, which is considerably lower than the initial expectation of a $50 billion valuation. The people who talked about the developments also said that Intel is seeking to stir more interest among investors by listing fewer shares at a lower price.
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