AVG Technologies N.V., provider of Internet and mobile security software , announced the pricing of initial public offering of 8.0 million ordinary shares at $16.00 per share, at low end of expected range of $16.00 and $18.00 per share.
In Form F-1, AVG originally filed plans last month for an initial public offering of as much as $125 million in common stock.
The shares will begin trading on the New York Stock Exchange on February 2, 2012 under the ticker symbol "AVG."
A total of 4.0 million shares are being offered by AVG, and a total of 4.0 million shares are being offered by selling shareholders.
In addition, certain selling shareholders have granted the underwriters a 30-day option to buy up to an additional 1.2 million shares to cover over-allotments.
AVG, The Netherlands based company, said that it will not receive any proceeds from the sale of shares by the selling shareholders.
AVG Technologies plans to use its IPO proceeds for general corporate purposes, including investments in property and equipment, the company stated in the regulatory filing.
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