Date Announced: 13 Aug 2010
Silicon Valley company re-prices secondary offering.
SAN JOSE, Calif. & SINGAPORE--(BUSINESS WIRE)--Avago Technologies Limited (Nasdaq:AVGO), today announced the pricing of a secondary offering of 14,905,000 ordinary shares at a price to the public of $20.40 per share. All of the shares are being sold by existing shareholders as identified in a prospectus relating to the offering. In addition, the underwriters have a 30-day option to purchase from certain selling shareholders up to an additional 2,235,750 ordinary shares to cover over-allotments, if any. Avago will not receive any proceeds from this offering, other than proceeds from options exercised by certain shareholders in connection with the offering.
Joint book-running managers of the offering are Deutsche Bank Securities, Barclays Capital, Morgan Stanley and Citi. The co-managers of the offering are Credit Suisse, Goldman, Sachs & Co., J.P. Morgan, UBS Investment Bank, KKR and RBS.
Source: Avago Technologies
Web Site: www.avagotech.com