Courtesy of Benzinga.
Avago Technologies Limited (Nasdaq: AVGO) today announced that its Board of Directors has authorized the Company to repurchase up to 15 million of its ordinary shares. This replaces the share repurchase program announced by the Company on June 9, 2011, which expired at the Company’s 2012 annual general meeting on April 4, 2012.
This share repurchase program was adopted pursuant to the share purchase mandate approved by the Company’s shareholders at its 2012 annual general meeting. The share purchase mandate authorizes the repurchase by the Company of up to 10 percent of its outstanding ordinary shares prior to the date of the Company’s 2013 annual general meeting.
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