First Hawaiian Inc. of Honolulu priced its secondary offering of 25.0 million common shares at $32.00 each. The offering is expected to close Feb. 6.

The shares are being offered by an affiliate of parent company BNP Paribas SA, and, if fully subscribed, the deal leaves the Paris-based parent 90,209,620 shares, or a 64.6% stake. No proceeds from the transaction will go to First Hawaiian.

Goldman Sachs & Co., BofA Merrill Lynch, J.P. Morgan and BNP Paribas are acting as joint book-running managers and underwriters. Barclays, Citigroup, Credit Suisse and Deutsche Bank Securities are also acting as joint book-running managers and underwriters for the offering. Keefe Bruyette & Woods is lead manager and underwriter. The underwriters have a 30-day overallotment option of 3,750,000 shares. If the option is fully exercised, BNP Paribas' remaining stake will be 86,459,620 shares, or 62.0%.