Two investors in Central Pacific Financial are planning to sell 7.6 million shares in the Honolulu company.
Central Pacific said in a press release Friday that affiliates of Carlyle Group and Anchorage Capital have priced a secondary offering that was announced earlier this week. The investors could raise roughly $178 million from the offering, based on details provided by Central Pacific.
Each of the private-equity firms will reduce their ownership in the $4.7 billion-asset company to 13.5% from 23.3%.
Central Pacific said in its release that it plans to buy back about 3.2 million shares, spending roughly $75 million, as part of the offering.
This repurchase is in addition to Central Pacific's February 2014 buyback of $56.2 million in stock from those investors.