Avago Files for IPO

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: Quote, Profile, Research, Stock Buzz) in 1961. When HP spun off Agilent Technologies (A.N: Quote, Profile, Research, Stock Buzz) 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)