BNP Paribas Completes $776 Million Sale of Shares of Common Stock of First Hawaiian, Inc.February 6, 2017
S&C client BNP Paribas completed the sale of 25 million shares of common stock of First Hawaiian, Inc. at a public offering price of $32 per share, for a total offering size of $776 million.
First Hawaiian is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii's oldest and largest financial institution, operating through 62 branches in Hawaii, Guam and Saipan, as well as its online, mobile and direct banking channels. The bank has approximately $19.7 billion in consolidated assets. The transaction reduces BNPP's ownership of First Hawaiian to approximately 64.6 percent.
The S&C team consisted of Mitchell Eitel, Catherine Clarkin, Katherine McGavin and Yael Tzipori. Mark Welshimer advised on bank regulatory matters. Eric Wang, Saul Brander and Tessa Lee advised on tax matters. Heather Coleman, Joshua Lerner and Sarah Long advised on executive compensation and benefits matters.