Hawaiian Electric Industries Monetizes 30% Of Its 9.9% Stake In American Savings Bank; Sale Of ~2M Shares Yields Net Proceeds Of $29.5M
The underwriters have a 30-day option to purchase up to an additional 293,904 shares of common stock from HEI, and fully exercising the option would result in an additional $4.4 million in net proceeds to HEI. Based on
Hawaiian Electric sold part of its bank ownership stake for about 29.5 million dollars. This helps the company raise cash, and they could make more money if buyers want additional shares.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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