February 27, 2024



On Wednesday 5 September 2018, First Hawaiian, Inc. (“FHI”) announced the pricing of a new secondary offering of shares of its common stock (the “Secondary Offering”).

The Secondary Offering comprises 20.0 million shares, or 14.8% of FHI’s common stock, to be sold by an affiliate of BNP Paribas representing an aggregate public offering price of approximately USD 577 million[1].

Following the Secondary Offering, BNP Paribas will hold 18.4% of FHI’s common stock (or 16.2% if the underwriters exercise the option to purchase additional shares in full).

It is expected that this transaction will have a positive impact of 5 basis points on the Group CET1 ratio as at 30 September 2018.

As a reminder, BNP Paribas announced on 31 July 2018 the success of a previous secondary offering[2]generating at least 10 basis points on the Group CET1 ratio as at 30 September 2018. The combined impact of these two transactions will, therefore, be of at least 15 basis points on the Group CET1 ratio as at 30 September 2018.

BNP Paribas confirms that it will consolidate FHI in its financial statements under the equity method as of third quarter 2018.

A registration statement relating to FHI’s common stock has been filed with and declared effective by, the Securities and Exchange Commission. The offering has been made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.



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