First Hawaiian stock jumps 5.4% in market debut
NASDAQ
Robert Harrison, First Hawaiian Bank chairman and chief executive officer, rang the closing bell at the Nasdaq MarketSite in Times Square on the first day of stock sales for the bank after its initial public offering.
First Hawaiian Bank enjoyed a successful market debut today as shares of its parent company jumped 5.4 percent to close up $1.25 at $24.25 on the Nasdaq Stock Market.
The stock of the state’s largest bank was priced Wednesday night at $23 — the top end of its marketed $21 to $23 range — but opened trading to the public at $24.20 at 11:40 a.m. EDT — more than two hours after the market opened. Its trading range was $24 to $24.76 as 11.6 million shares exchanged hands.
The market capitalization of the bank, which trades under its holding company name of First Hawaiian Inc., is now at $3.38 billion. That is the largest market cap of any publicly traded company in Hawaii, barely surpassing the $3.31 billion value of Hawaiian Electric Industries Inc.
The initial public offering raised $485 million for BNP Paribas, whose ownership of First Hawaiian dropped to 84.9 percent following the sale of 21.1 million shares.
First Hawaiian trades under the symbol FHB.
10 responses to “First Hawaiian stock jumps 5.4% in market debut”
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Doesn’t mean anything to us little guys.
S/A is just trying to do their part to build the stock price. Banks are borrowing money for “0”, and loaning it out at 3.5-18%. If you aren’t making money in the banking business, you shouldn’t be in business. It’s why Caldwell is still drawing $200k a year from Territorial.
Where’s your facts for the $200K you’re reporting @peanutgallery
It is common knowledge. Where have you been?
It’s reported in the story “3 candidates joust over the embattled rail transit project” that appeared on the front page of today’s print edition. However, I can’t find that story in the online edition. Basically Caldwell’s making over $200,000 a year as a member of Territorial’s board of trustees, which Djou called a part-time job.
The question still hasn’t been answered? Where have you been or is do you know how to read?
Sorry, I’m mistaken about the date of the story. It was actually run on 7/29/16.
So in other words the funds raised by the sale of FHB stock go directly to a company in France.
sam–exactly, so why all the fuss??? Going public is a two edged sword–they make money on the IPO, but now they have to disclose and cross the “t’s” and dot the “i’s”.
Of course. When BNP Paribas bought FHB 15 years ago, they paid all the public shareholders at that time, and all of the money came out of their pocket. So now that they’re selling FHB back to public shareholders, naturally they keep the proceeds.