Former Hawaiian Electric subsidiary American Savings Bank files for US IPO

Hawaiian Electric Industries

24/08/2026 21:20

Aug 24 (Reuters) - American Savings Bank, formerly a subsidiary of utility firm Hawaiian Electric HE.N, said on Monday it has filed for a U.S. initial public offering.
The bank did not disclose additional details on the number of shares to be offered and the price range for the proposed offering.
       
Here are some details:    
The U.S. IPO market is regaining momentum as prospective issuers look past market volatility to press on with their plans to go public.
The Hawaii-based firm filed a registration statement for the IPO with the Office of the Comptroller of the Currency to list its common stock on the New York Stock Exchange under the symbol "ASBH."
Hawaiian Electric divested a 90.1% stake in the unit in late 2024, valuing the bank at $450 million.
American Savings Bank, which has been operating in Hawaii since 1925, has a network of 35 branches across the state. 


 (Reporting by Utkarsh Shetti in Bengaluru; Editing by Vijay Kishore)
 ((UtkarshUmesh.Shetti@thomsonreuters.com;))