SEOs Rise

As with IPOs, SEOs tend to be issued cyclically, usually when the stock market is doing well. Given this, it is not surprising that nearly $3 billion in SEOs have been announced recently. For example, Armstrong World Industries announce a $520 million SEO, Enbridge Energy Management announced a $240 million SEO, and Stratys Ltd. announced a $400 million SEO, or about 10 percent of the company's current market value. Given the relative strength of the stock market in the recent past, it would not be surprising to see more SEOs soon.