Rochester, NY 8/18/2009 9:07:58 PM
Cadence Financial Corp. CADE - Market Updates on Secondary Stock Offerings Running at Alarming Levels
Cadence Financial Corp. CADE
Secondary stock offerings run at market flood rates. Public secondary stock offerings is almost running at alarming levels when you consider that these share sales are after such a large run-up in the markets. Melco Crown Entertainment Ltd. $200 million and GSI Commerce Inc. sold about $201 million in secondary offerings.
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Other stocks in offerings are scheduled from American Water Works Co. Great Lakes Dredge & Dock Corp. and U-Store-It Trust. Then there is the flood of regional and community banks selling stock.
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