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BOC Aviation's $1.1bn IPO attracts big investors

Staff writer |
BOC Aviation, the aircraft leasing unit of Bank of China Ltd, has attracted investors including Boeing and the Chinese sovereign wealth fund to buy shares in its $1.1 billion initial public offering in Hong Kong.

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China Investment and the Silk Road Fund have agreed to each invest $100 million in the offering, while Oman Investment Fund will buy $50 million of stock, according to terms for the deal obtained by Bloomberg.

Boeing, the world's biggest planemaker, committed $30 million, and Chinese billionaire Guo Guangchang's Fosun International Ltd will purchase $35 million of shares.

Spurred by strong economic growth in the past decade and rising incomes in the world's two most-populous countries, China and India, Asia is on course to beat the US as the biggest plane-leasing market, according to Airbus Group SE and Boeing.

With this IPO, BOC Aviation will become the second dedicated Asian air lessor to go public, after smaller competitor China Aircraft Leasing Group Holdings made its debut in Hong Kong in July 2014.

BOC Aviation and its controlling shareholder are offering a combined 208.2 million shares in the IPO at a fixed price of HK$42 apiece.


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