HEI monetizes 30% of ASB stake for $29.5 million proceeds
Hawaiian Electric Industries monetized 30% of its 9.9% stake in American Savings Bank (ASB) as part of ASB’s IPO, selling about 2.0 million shares for $29.5 million in proceeds.
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10:00:54 AM UTC
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Hawaiian Electric Industries sold ~2.0M ASB shares in ASB’s IPO for $29.5M net and granted a 30—day option for up to 293,904 more shares for ~$4.4M. HEI’s remaining 6.4% ASB stake is valued at about $73.5M and is under a 180—day lockup.Material DetailsContext by AI AnalystThis is a mid-cycle liquid…
On September 16, 2026, Hawaiian Electric Industries, Inc. A. (NYSE - ASBH) (“ASB”), as part of ASB’s initial public offering. 5 million in proceeds to HEI, ne…