August 1, 2014 / 2:37 PM / 3 years ago

Mobileye shares rise 50 pct in bumper debut

July 31 (Reuters) - Shares of Mobileye NV, a maker of camera-based systems that help drivers avoid collisions, rose as much as 55 percent in their debut, valuing the company at about $8.2 billion.

Mobileye’s upsized initial public offering, the largest U.S. IPO by an Israeli company, raised about $889.7 million after shares were priced at $25, above the range of $21-$23 per share.

Of the 35.6 million shares offered, Mobileye sold 8.33 million shares while the rest were sold by shareholders. The company bumped up its IPO size by about 28 percent on Thursday.

Mobileye makes windshield-mounted cameras that take pictures of what is in front of the driver. The images are processed and a small device on the dashboard gives the driver audio-visual warnings in real-time. (Reporting by Avik Das and Amrutha Gayathri in Bangalore; Editing by Saumyadeb Chakrabarty)

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