BNP Paribas, the Paris-based majority shareholder of First Hawaiian Bank, said it will offer 15.3 million shares of First Hawaiian’s common stock in an underwritten public offering.
The secondary common stock offering would reduce BNP’s stake in the Honolulu-based bank to 49.93 percent, compared to its current 61.93 percent stake.
BNP said it intends to grant the underwriters a 30-day option to purchase up to an additional 1.53 million shares of the First Hawaiian’s common stock.
