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Report: First Hawaiian could be valued up to $4B in IPO

The initial publicoffering of Honolulu-based FirstHawaiian Inc., which intends to lay out terms and sell its shares inthe coming couple of weeks, is poised to indicate a market value of $3 billion to$4 billion, Bloomberg News reported, citing "people with knowledge of the matter."

The market value will depend on the trading situation of comparablelenders, according to the news story. Sources told the news outlet that earlierprojections had valued the bank at as high as $5 billion.

In addition, according to these people, the closest peer is Honolulu-basedBank of Hawaii Corp., whichcurrently has a market capitalization of about $2.98 billion, according to SNL data.

First Hawaiian filed a registration statement in connection withits IPO on July 8.

BNP Paribas SAis the ultimate parent of First Hawaiian, which in turn is the holding company ofFirst Hawaiian Bank.