BNP Paribas Sells Remaining Stake in First Hawaiian

Date : 01/30/2019 @ 11:57AM
Source : Dow Jones News
Stock : Bnp Paribas (QX) (BNPQY)
Quote : 23.5  -0.45 (-1.88%) @ 9:58PM

BNP Paribas Sells Remaining Stake in First Hawaiian

BNP Paribas (EU:BNP)
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   By Pietro Lombardi 
 

BNP Paribas SA (BNP.FR) is selling its remaining stake in First Hawaiian Inc (FHB) via the sale of 24.9 million shares by an affiliate of the French bank.

"Following completion of the secondary offering, it is expected that BNP Paribas will have fully exited its stake," the bank said Wednesday.

The deal should have "a negligible positive impact" on BNP's core tier 1 ratio in the first quarter of the year, it said.

The French banking giant has progressively reduced its stake in First Hawaiian. In July, it said it would reduce its stake following the sale of 20 million shares by an affiliate.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

January 30, 2019 06:42 ET (11:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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