First Hawaiian Bank, a hawaii-based subsidiary of BNP with 62 branches and $19 billion in assets, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, we estimate the offering could raise $1 billion.
The Honolulu, HI-based company was founded in 1858 and booked $695 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol FHB. Goldman Sachs, BofA Merrill Lynch, BNP Paribas, Barclays, Credit Suisse, Deutsche Bank, J.P. Morgan, Citi, Morgan Stanley and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
