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Avago Technologies Limited Announces Final Closing of Initial Public Offering, Including Full Exercise of Over-Allotment Option

SAN JOSE, Calif. & SINGAPORE--(BUSINESS WIRE)--Aug. 18, 2009-- Avago Technologies Limited (Nasdaq:AVGO) today announced that it has closed its previously announced initial public offering of 43,200,000 ordinary shares at a price to the public of $15.00 per share and that the underwriters have purchased an additional 6,480,000 ordinary shares from selling shareholders pursuant to the full exercise of the underwriters’ over-allotment option. Of the 49,680,000 ordinary shares sold, 21,500,000 ordinary shares were sold by Avago and 28,180,000 ordinary shares were sold by selling shareholders. Avago did not receive any additional proceeds from the exercise of the underwriters’ over-allotment option, other than the proceeds from the exercise of options held by certain selling shareholders, which are not material.

Joint book-running managers on the offering were Deutsche Bank Securities Inc., Barclays Capital Inc., Morgan Stanley & Co. Incorporated and Citi. The co-managers of the offering were 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. also acted as underwriters in the offering.

A copy of the final 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; Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, or by e-mail:; or Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Telephone: (800) 831-9146.

A registration statement relating to this offering was filed with, and declared effective by, the Securities and Exchange Commission on August 5, 2009. 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

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