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Report: BNP Paribas to launch First Hawaiian Bank IPO as early as June

Paris-based BNPParibas SA is planning to launch an of its subsidiary, , as early as June,The Wall Street Journal reportedApril 7.

Citing "people familiar with the matter," the Journal wrote First Hawaiian seeks toraise about $1 billion in an offering that would value the company between $4billion and $5 billion.

The IPO is only part of strategic BNP Paribas is consideringto strengthen its capital cushion. A sale was not an option since there wereonly a few strategic buyers for the bank, according to the publication, citingone person.

According to the report, "some of the people" saida roadshow in May had been planned but it had fallen through due to regulatoryissues. First Hawaiian Bank aims to complete its 2016 FederalReserve stress test and pursue regulatory approval before launching the IPO,the Journal said.