First Hawaiian IPO raises $557.8M as underwriters buy more shares
STAR-ADVERTISER / JUNE 2012
First Hawaiian Inc., the holding company for the state’s largest bank, said today that underwriters have fully exercised their option to purchase anadditional 3.2 million shares of the initial public offering that was priced at $23 apiece.
First Hawaiian Bank’s parent company ended up raising $557.8 million in its initial public offering.
The holding company for the state’s largest bank said today that underwriters have fully exercised their option to purchase an additional 3.2 million shares of the Aug. 3 offering that was priced at $23 apiece. That brings the total number shares purchased in the offering to 24.25 million shares and increases the amount raised to $557.8 million.
The additional shares sold also reduced BNP Paribas’ stake in First Hawaiian Inc. to 82.6 percent from 84.9 percent.
Goldman, Sachs & Co., BofA Merrill Lynch and BNP Paribas were the primary underwriters.
First Hawaiian’s stock closed today down 17 cents at $24.41 on the Nasdaq.
2 responses to “First Hawaiian IPO raises $557.8M as underwriters buy more shares”
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Not sure why people are buying this stock. Not a lot of upside since BNP owns 83 percent of it. There expenses are going to increase dramatically now that they are a semi public company.
Time will tell.