News

1 March 2010

 

Avago closes over-allotment option on secondary offering of shares

Avago Technologies Ltd of San Jose, CA, USA, which designs and supplies analog semiconductor devices (with a focus on III-V based products), has announced the closing of the underwriters' exercise of their over-allotment option to purchase an additional 3.75 million ordinary shares from selling shareholders, at a price to the public of $17.41 per share.

The 30-day over-allotment option (exercised in full on 23 February) is in connection with Avago’s secondary offering of 25 million ordinary shares (sold by existing shareholders), pursuant to a registration statement declared effective by the US Securities and Exchange Commission (SEC) on 27 January.

Avago did not receive any proceeds from the sale of shares, other than the proceeds from the exercise of options held by certain selling shareholders in connection with the offering.

See related items:

Avago’s IPO underwriters exercise over-allotment option in full

Avago prepares $400m IPO on NASDAQ

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