Dream on United fans
Manchester United fans hoping another group can buy the Premier League champions from the Glazers are not thinking straight, said analysts and bankers. Full Article
Avago shares jump in debut
Traders work on the floor of the New York Stock Exchange, August 3, 2009.
Credit: Reuters/Brendan McDermid
NEW YORK (Reuters) - Avago Technologies Ltd (AVGO.O) shares immediately jumped 10.1 percent in their trading debut on Thursday, following the chipmaker's initial public offering.
Avago shares started trading for $16.51 on Nasdaq, before rising as far as $16.75 and then giving back some of those initial gains. In morning trading, Avago shares were changing hands for $16.04, up 6.9 percent over the $15.00 IPO price set late Wednesday.
Avago, a Singapore-based designer of analog semiconductor devices, sold 43.2 million shares and raised $648 million in the second largest IPO in the United States so far in 2009.
Avago is partly owned by private equity firms Silver Lake Management Co and Kohlberg Kravis & Roberts & Co.
(Reporting by Phil Wahba, editing by Gerald E. McCormick)
