The Firm recently represented J.P. Morgan Securities LLC as underwriter in a follow-on offering of First Hawaiian, Inc.’s (“First Hawaiian”) common stock. A total of 24,859,750 shares of common stock were sold in the offering for gross aggregate proceeds (before deducting underwriting discounts and commissions and estimated expenses) of $652.6 million. The shares were sold by an affiliate of BNP Paribas. First Hawaiian’s common stock is listed on the NASDAQ Global Select Market under the symbol “FHB.” As a result of the completion of the offering, BNP Paribas has fully exited its stake in First Hawaiian’s common stock.
First Hawaiian is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858, is Hawaii’s oldest and largest financial institution with approximately $20 billion of assets as of September 30, 2018.
The Simpson Thacher team for this offering included, among others, Lesley Peng, Ben Heriaud and Forrest Osgood (Capital Markets); Keith Noreika, Adam Cohen and Spencer Sloan (Bank Regulatory); Jamin Koslowe (ECEB); Jonathan Cantor and Caroline Phillips (Tax); and Andrew Pagliughi (FINRA and Blue Sky).