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HAWAIIAN ELECTRIC INDUSTRIES INC. PLANS NEW EQUITY OFFERING

 HAWAIIAN ELECTRIC INDUSTRIES INC. PLANS NEW EQUITY OFFERING
 HONOLULU, Nov. 2 /PRNewswire/ -- Hawaiian Electric Industries Inc. (NYSE: HE) today filed a registration statement with the Securities and Exchange Commission to sell 1.5 million new shares of common stock in a public offering to be managed by Smith Barney, Harris Upham & Co. Inc., Merrill Lynch & Co., Dean Witter Reynolds Inc. and Edward D. Jones & Co.
 The exact timing of the offering has not been determined and depends, in part, on market conditions. Proceeds from the proposed offering would be used to make additional investments in and loans to the company's electric utility subsidiary, to repay short-term borrowings and for general corporate purposes.
 Hawaiian Electric Industries is a diversified electric utility holding company that delivers essential services to the people of Hawaii through its electric utility, bank, insurance, maritime freight transportation and real estate development subsidiaries.
 -0- 11/2/92
 /CONTACT: Constance H. Lau, treasurer, 808-543-7384, or (fax) 808-543-7966, or Gary S. Sharpe, director-investor relations, 808-543-7385, both of Hawaiian Electric/
 (HE) CO: Hawaiian Electric Industries Inc. ST: Hawaii IN: UTI SU: OFR


JB-BP -- LA028 -- 1796 11/02/92 17:15 EST
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Publication:PR Newswire
Date:Nov 2, 1992
Words:190
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