By Colin Kellaher

First Hawaiian Inc. (FHB) on Monday said BNP Paribas SA (BNP.FR) has further reduced its stake in the company, pricing an offering of 20 million shares at $27.90 a share.

The Honolulu bank holding company also said it will buy an additional $50 million worth of stock directly from BNP.

First Hawaiian said the offering and share repurchase will reduce the French bank's stake to 33.3% from about 48.8%. BNP has granted the underwriters a 30-day option to buy up to an additional 3 million shares, which would pare its interest to 31%.

BNP, which took First Hawaiian public with an initial offering in 2016, relinquished majority ownership in May with another offering and direct sale of shares.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 30, 2018 10:04 ET (14:04 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
BNP Paribas (EU:BNP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas BNP Paribas.
BNP Paribas (EU:BNP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas BNP Paribas.