Mobileye, an Intel subsidiary developing technology for self-driving cars, unveiled its filing for an initial public offering (IPO) with the US Securities Exchange Commission (SEC) to be listed on Nasdaq under the ticker “MBLY.” Goldman Sachs and Morgan Stanley are the lead underwriters of the IPO. Reportedly, the deal could potentially value the company at around USD 50 billion.

Mobileye intends to list Class A common stock but has not disclosed the number of shares to be offered or the prices. Intel is to maintain ownership of Class B shares which have 10x the votes of Class A shares and gives control over Mobileye’s Board and decision-making.

The company intends to use the proceeds to settle debt to its parent Intel, and the remainder for working capital needs and corporate expenses.

Intel’s autonomous driving unit Mobileye offers cameras, computer chips, and software for autonomous driving technologies and advanced driver assistance systems (ADAS). Its technology is currently being used by 50 companies across 800 vehicle models.

Analyst QuickTake: Intel acquired then publicly listed Mobileye in March 2017 (delisted thereafter) for USD 15.3 billion to develop self-driving technology for automotive companies. Mobileye originally debuted on the Nasdaq in 2014 at a USD 5.31 billion valuation. Prior to today's news, Mobileye confidentially filed for an IPO earlier this year.