Avago Technologies, a kKR/Silver Lake backed LBO of Hewlett Packard's former analog semiconductor business, priced its offering of 43,200,000 at $15.00, more than the expected 36 million shares, and at the high end of the range of $13.00 to $15.00. The $648 million raised by Avago makes it the second largest IPO this year, behind Mead Johnson (MJN), which had proceeds of $720 million in its February IPO. Avago Technologies plans to list on the NASDAQ under the symbol AVGO. Deutsche Bank acted as lead managers on the deal.
