SAN JOSE, Calif. and SINGAPORE, Dec. 6, 2012 (GLOBE NEWSWIRE) -- Avago Technologies Limited (Nasdaq:AVGO), today announced the sale of 21,490,022 ordinary shares by certain existing shareholders, including our President and Chief Executive Officer and entities affiliated with certain directors, to Citigroup as underwriter 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 will not receive any proceeds from this offering other than approximately $1.5 million in aggregate option exercise price proceeds from a selling shareholder who will exercise options for the purpose of selling shares in this offering.
The ordinary shares are being offered under the Company's existing shelf registration statement filed with the Securities and Exchange Commission on August 6, 2010. A prospectus supplement and base prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission and may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 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 a broad range of analog semiconductor devices with a focus on III-V based products. Our product portfolio is extensive and includes thousands of products in three primary target markets: wireless communications, wired infrastructure and industrial and automotive electronics.
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CONTACT: Avago Technologies Limited Thomas Krause, 408-435-7400 VP Corporate Development firstname.lastname@example.org