First Hawaiian Bank in downtown.
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BNP Paribas, the onetime 100 percent owner of First Hawaiian Bank, is selling up to 23 million shares of FHB stock, which will reduce its ownership to as little as 31 percent.
In 2001, French-based BNP Paribas became sole owner of First Hawaiian Inc., the parent of FHB. In 2016, BNP began reducing its ownership by selling shares to the public, and prior to this recent sale owned about 48 percent of the company.
First Hawaiian is offering 20 million shares at $27.90 per share. The underwriter of the offering, Goldman Sachs, has an option to buy an additional 3 million shares. The offering is expected to close Wednesday.
Shares of First Hawaiian Bank, Hawaii’s largest financial institution, closed down 0.07 percent at $28.10 Monday.
ON THE MOVE
RMA Architects has promoted Laurie Nii to associate architect. Nii has experience in commercial and institutional design, including projects for Malu Investment and NAVFAC Pacific.
Moss Construction has announced that Matthew Jun is the new pre-construction chief for the firm’s Hawaii operations. He has 17 years’ experience in the local construction industry. Prior to that, Jun was a lead estimator/manager who oversaw multiple design-assist projects at Hawaiian Dredging Construction Co.