BNP Paribas said it will offer 20 million shares of First Hawaiian’s common stock in an underwritten public offering, as the Paris-based minority shareholder continues to divest its remaining shares of First Hawaiian stock.
Completion of the public offering and the direct share repurchase is expected to reduce BNP Paribas’ beneficial ownership stake in First Hawaiian from 48.8 percent to approximately 33 percent.
BNP said it intends to grant the underwriter a 30-day option to purchase up to…
