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First Hawaiian Inc. is scheduled to announce the specific price of its stock on Aug. 4 and begin trading the following day, according to a schedule of initial public offerings posted on the Nasdaq Stock Market website.
Shares of the newly renamed BNP Paribas subsidiary, formerly First Hawaiian Bank, could fetch as much as $485 million if the offering of about 21.1 million shares trade at the top of the marketed $21 to $23 range, according to First Hawaiian’s filing Tuesday with the U.S. Securities and Exchange Commission. If the underwriters exercise their option to purchase an additional 3.2 million shares, the offering could be worth $557.8 million.
First Hawaiian wouldn’t disclose Wednesday whether its officials will attend the IPO event in New York or ring the opening or closing bell at the Nasdaq MarketSite in Times Square. Typically, company officials and their guests participate. The electronic bell is rung by pressing a tablet screen on the bell podium.
The bank is not expected to trade at the open of the market at 3:30 a.m. Hawaii time but rather sometime in the first 90 minutes of trading, according to typical Nasdaq protocol for IPOs.
First Hawaiian will trade under the symbol FHB.