First Hawaiian’s $652.6 Million Secondary Common Stock Offering


Simpson Thacher 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 (Picture), 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).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Jamin Koslowe – Simpson Thacher & Bartlett; Keith Noreika – Simpson Thacher & Bartlett; Forrest Osgood – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Lesley Peng – Simpson Thacher & Bartlett; Caroline Phillips – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

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Author: Ambrogio Visconti