First Hawaiian Bank in Honolulu expects to raise up to $558 million in an initial public offering after its parent, BNP Paribas Group, decided to
The $19 billion-asset bank
First Hawaiian will not receive any of the proceeds from selling shares. BNP will own 85% of the outstanding shares of the bank’s common stock when the offering is completed. Currently there are roughly 139.5 million shares outstanding.
-
First Hawaiian Bank in Honolulu will be spun off rather than sold.
July 11 -
BNP Paribas is considering selling or spinning off one of its two U.S. banking subsidiaries as it aims to boost capital.
December 24 -
Bank of Hawaii in Honolulu has hired Sheh Bertram as chief information officer.
August 17
First Hawaiian
The joint book-running managers for the offering are Barclays, Credit Suisse, Deutsche Bank Securities, J.P. Morgan, Citigroup, Morgan Stanley and UBS Investment Bank. Co-lead managers are BBV, Commerzbank, HSN, ING, Banco Santander, Wells Fargo Securities and Keefe, Bruyette & Woods.