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BUZZ-First Hawaiian Inc: Slips as BNP Paribas draws down

Reuters - UK Focus

** First Hawaiian Inc (Frankfurt: 1HI.F - news) shares slip as France's BNP (Paris: FR0000131104 - news) Paribas SA sells for first time since the Honolulu-based bank's Aug IPO

** FHB declines as much as 4.1 pct. Has traded 8.4 mln shares vs 30-day avg of 282k

** First Hawaiian's 25-mln-share secondary offering priced at $32, a 3 pct discount to stock's last sale

** If full shoe is exercised, BNP's stake would go to roughly 65 pct from 83 pct

** First Hawaiian went public at $23, with all of the shares offered by BNP

** The French bank first acquired a stake in FHB in 1998 when its subsidiary, BancWest Corporation, merged with Hawaii's oldest bank

** In Dec 2015, BNP said it was looking at "strategic options" for First Hawaiian as part of its plans to shore up its finances and respond to regulatory requirements