SAN FRANCISCO—Analog chip vendor Avago Technologies Ltd. Wednesday (Sept. 28) announced the sale of 15 million ordinary shares by certain existing shareholders to Citigroup and Deutsche Bank Securities Inc., as underwriters in the registered public offering of those shares.
All of the shares are being sold by existing shareholders identified in the prospectus supplement relating to the offering, Avago (Singapore) said. The underwriters have a 30-day option to purchase from certain of the shareholders up to an additional 2.25 million ordinary shares to cover over-allotments, if any, Avago said. Avago will not receive any proceeds from this offering, the company said.
The ordinary shares are being offered under the company’s existing shelf registration statement filed with the U.S. Securities and Exchange Commission Aug. 6, 2010, the company said. A prospectus supplement and base prospectus describing the terms of the offering will be filed with the SEC, the company said.