Broadcom officially completed the redomiciliation process to change from a Singapore company to a Delaware corporation. Broadcom is now officially headquartered in San Jose, California. It has over 8,500 employees in 35 states.
The change in residency is expected to lead to several hundred million dollars in additional U.S. taxes.
Effective as of the close of trading on April 4, 2018, all issued ordinary shares of Broadcom Limited have been exchanged on a one-for-one basis for newly issued shares of common stock of Broadcom Inc. Broadcom Inc. common stock will begin trading on April 5, 2018, and the company’s trading symbol on NASDAQ will remain unchanged as “AVGO.”
The completion of our redomiciliation to the United States marks an important milestone in our company’s history as Broadcom has been an American company in every respect but our legal domicile. As I said when we announced our intention to redomicile from the Oval Office in November 2017, we believe that America is once again the best place for Broadcom to do business,” Hock Tan, Broadcom’s President and Chief Executive Officer.
