Avago Technologies Limited Prices Initial Public Offering
San Jose, Calif. and Singapore – August 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 [email protected]; Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, or by e-mail: [email protected]; 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.