SAN JOSE, Calif. & SINGAPORE--(BUSINESS WIRE)--Aug. 5, 2009--
Avago Technologies Limited (Nasdaq:AVGO) today announced the initial
public offering of 43,200,000 ordinary shares at a price to the public
of $15.00 per share. The 43,200,000 shares being offered represent an
increase of 20% from the 36,000,000 shares originally offered. Of the
43,200,000 ordinary shares being offered, 21,500,000 ordinary shares are
being offered by Avago and 21,700,000 ordinary shares are being offered
by selling shareholders. The selling shareholders identified in the
prospectus include members of the Company’s senior management and
entities affiliated with directors of Avago. All of the additional
shares being offered as a result of the upsizing of the deal are being
offered by the selling shareholders on a pro rata basis, except for ten
company executives and managers who have voluntarily limited the number
of shares they are offering.
In addition, the underwriters have a 30-day option to purchase from the
selling shareholders up to an additional 6,480,000 ordinary shares to
cover over-allotments, if any. Avago’s ordinary shares are expected to
begin trading on The NASDAQ Global Select Market under the symbol “AVGO”
on August 6, 2009.
Joint book-running managers on the offering are Deutsche Bank Securities
Inc., Barclays Capital Inc., Morgan Stanley & Co. Incorporated and Citi.
The co-managers of the offering are Credit Suisse Securities (USA) LLC,
Goldman, Sachs & Co., J.P. Morgan Securities Inc., UBS Securities LLC
and KKR Capital Markets LLC. ABN AMRO Incorporated and FTN Equity
Capital Markets Corp. are also acting as underwriters in the offering.
A registration statement relating to this offering was filed with and
declared effective by the Securities and Exchange Commission on August
5, 2009. This offering is being made solely by means of a written
prospectus forming part of the effective registration statement. A copy
of the prospectus relating to this offering may be obtained from
Deutsche Bank Securities Inc., Attention: Prospectus Department, 100
Plaza One, Jersey City, New Jersey 07311, Telephone: (800) 503-4611;
Barclays Capital Inc., c/o Broadridge, Integrated Distribution Services,
1155 Long Island Ave., Edgewood, NY, 11717, Telephone (888) 603-5847 or
by e-mail at barclaysprospectus@broadridge.com;
Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180
Varick Street, New York, NY 10014, or by e-mail: prospectus@morganstanley.com;
or Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn,
NY 11220, Telephone: (800) 831-9146.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Avago Technologies Limited
Avago Technologies Limited is a leading designer, developer and global
supplier of analog semiconductor devices for communications, industrial
and consumer applications.
Source: Avago Technologies Limited
Avago Technologies
Tom Tran
Investor.relations@avagotech.com
or
Summit
IR Group
Jim Fanucchi, 408-404-5400
Investor.relations@avagotech.com