Hawaiian Electric sells part of ASB stake to bolster finances
Hawaiian Electric Industries monetized 30% of its 9.9% stake in American Savings Bank, citing strengthening its financial position and reducing financing needs for future wildfire settlement payments. The sale occurred as part of ASB’s initial public offering.
9% stake in American Savings Bank, saying the move will strengthen its financial position and reduce financing needs for future wildfire settlement payments. The sale was done as part of ASB's initial public offering, Hawaiian said.