Avnet

(AVT) - Get Report

completed an 18 million-share secondary offering.

The Phoenix-based distributor of computer products and electronics components said the sale was made by Permira shareholders who acquired their stock in Avnet's July 2005 acquisition of Memec. The sale included a 2.3 million-share green shoe. Permira is a European investing group that controlled Memec before the Avnet buyout.

On Wednesday, Avnet rose 19 cents to $24.93.

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