Avago Technologies files for $400 million IPO

Thu Aug 21, 2008 5:56pm EDT
 
[-] Text [+]

WASHINGTON, Aug 21 (Reuters) - High-tech firm Avago Technologies Ltd plans to issue an initial public offering of up to $400 million in ordinary shares, according to a filing with the Securities and Exchange Commission on Thursday.

Singapore-based Avago's website says it makes fiber optic transceivers and optical and laser mouse sensors, among other products.

Avago plans to trade on the Nasdaq under the symbol "AVGO." It gave no expected share price.

Avago Technologies began as part of Hewlett-Packard (HPQ.N) in 1961. When HP spun off Agilent Technologies (A.N) in 1999, what is now Avago became Agilent's semiconductor products group.

Kohlberg Kravis Roberts and Co and Silver Lake Partners acquired the semiconductor group and took it private.

Deutsche Bank Securities, Lehman Brothers, Morgan Stanley and Citi are the lead underwriters for the IPO.

(Reporting by Diane Bartz; Editing by Phil Berlowitz)

 

Featured Broker sponsored link

Analysis

Sheikh Mohammed bin Rashid al-Maktoum (C), Ruler of Dubai and United Arab Emirates' Vice President, attends the opening ceremony of Metro Dubai September 9, 2009.  REUTERS/Dubai Ruler Media Office/Handout
"Dubai model" was the vision of one man

The "Dubai model" -- building shining cities in the desert at breakneck speed through the import of foreign residents, finance and labor -- is now on the ropes.  Full Article