Letter: HECO bank divestiture was potentially ill-timed

The recent article about the American Savings Bank initial public stock sale missed one salient fact: The executive group that bought out 90% of the bank from Hawaiian Electric appears to have doubled their investment in less than two years (“Hawaii’s American Savings Bank completes initial public stock sale,” Star-Advertiser, Sept. 18). Their initial 90% purchase cost $405 million; the bank, after its IPO, is now valued at $1.1 billion.

See the original article at: Honolulu Star-Advertiser