SAN FRANCISCO—Private equity firm Kohlberg Kravis Roberts & Co. (KKR) unloaded 10.9 million shares of Avago Technologies Ltd. last week reducing its stake in the analog chip vendor to 16 percent from 21 percent, according to a Dow Jones report.
Last week, Avago (Singapore) announced the sale of 25 million ordinary shares by certain existing shareholders to Deutsche Bank Securities and Barclays Capital, as underwriters in the registered public offering of those shares.
KKR sold its shares for $27.25 each on Jan. 21, Dow Jones reported, citing a regulatory filing.
Avago's stock closed at $28.02 Tuesday (Jan. 25), down 8 cents from the previous close. The stock was up nearly 2 percent to $28.57 in after hours trading.
Also Tuesday, Avago rolled out several new precision optical isolation amplifiers for motor control and current sensing applications.