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Secondary Offerings Come Back Fast (CEDC, HGG, EWBC, BMS, INTC, STSA, CVBF, RT)
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Now that markets are back up, we are starting to see many syndicate offerings come in. That is not a huge surprise, but the volume of companies is rather strong. We have seen priced offerings from Central European Distribution Corp. (NASDAQ: CEDC), hhgregg, Inc. (NYSE: HGG), and from East West Bancorp (NASDAQ: EWBC). We have also seen filings from Bemis Co., Inc. (NYSE: BMS), Intel Corp. (NASDAQ: INTC), Sterling Financial Corporation (NASDAQ: STSA), and CVB Financial Corp. (NASDAQ: CVBF). Ruby Tuesday Inc. (NYSE: RT) is also on deck with a 10 million share offering taht may come this week.
Central European Distribution Corp. (NASDAQ: CEDC) had an 8.35 million share secondary priced at $24.00 after closing at $25.43.
hhgregg, Inc. (NYSE: HGG) had a 3.5 million share secondary priced at $16.50, after closing at $17.06 yesterday.
East West Bancorp (NASDAQ: EWBC) had a 11 million share Secondary price at $6.35 after closing at $6.72 yesterday.
Bemis Co., Inc. (NYSE: BMS) filed to sell 7.5 million shares.
Intel Corp. (NASDAQ: INTC) filed to sell $1.5 billion of 30-Year junior subordinated convertible debt.
Sterling Financial Corporation (NASDAQ: STSA) filed for a $500 million shelf registration, yet its market cap is only $167 million.
CVB Financial Corp. (NASDAQ: CVBF) filed to sell $135 million worth of common stock, and its market cap is $511 million.
Ruby Tuesday Inc. (NYSE: RT) is likely to sell 10 million shares that may come this week.
JON C. OGG
JULY 21, 2009
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