Investing

Secondary Offerings Come Back Fast (CEDC, HGG, EWBC, BMS, INTC, STSA, CVBF, RT)

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