Singapore-based aircraft lessor BOC Aviation to launch US$1.1b HK IPO on Monday

HONG KONG (REUTERS) - Aircraft leasing company BOC Aviation Pte Ltd plans to launch its Hong Kong initial public offering next Monday, aiming to raise about US$1.1 billion with a fixed-price listing, IFR reported on Wednesday (May 11), citing people close to the deal.

Singapore-based BOC Aviation, an arm of Bank of China, will likely sell shares at a fixed price equivalent to 1.1 times its 2016 price-to-book value, added IFR, a Thomson Reuters publication.

The company will also count on cornerstone investors to buy about 50 per cent of the shares on offer, IFR said.

BOC Aviation did not immediately respond to a Reuters request for comment.