Avago Technologies (Nasdaq: AVGO) said that it has withdrawan a secondary public offering of 24.84 million ordinary shares, due to “adverse market conditions.” Avago shareholders include KKR and Silver Lake Partners.
Avago Technologies (Nasdaq: AVGO), today announced it has agreed with its principal controlling shareholder to withdraw the proposed secondary offering to the public of 24,840,000 ordinary shares due to adverse market conditions, effective immediately. The Company and its principal controlling shareholder may elect to offer any or all of such shares at a later date or dates, subject to market and other conditions.
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 over 6,500 products in four primary target markets: wireless communications, wired infrastructure, industrial and automotive electronics, and consumer and computing peripherals.