Date Announced: 10 Aug 2010
Optoelectronics company looking to raise around $600M in follow-up offering.
SAN JOSE, Calif. & SINGAPORE--(BUSINESS WIRE)--Avago Technologies Limited (Nasdaq: AVGO), today announced its intention to conduct a secondary offering to the public of 24,840,000 ordinary shares. All of the shares are being sold by existing shareholders as identified in the prospectus supplement relating to the offering.
In addition, the underwriters have a 30-day option to purchase from certain selling shareholders up to an additional 3,726,000 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.
Source: Avago Technologies
Web Site: www.avagotech.com