Boarding begins for BOC Aviation $1.1b IPO

Bank of China, the country’s fourth-largest lender by assets, launched an initial public offering for its aircraft leasing business on Monday, targeting HK$8.7 billion $1.13 billion from the sale of both new and existing shares.

With shares tentatively scheduled to begin trading on June 1, BOC Aviation looks set to steal a march on rivals CDB Leasing and Minsheng Financial Leasing, which are both also preparing to list in Hong Kong later this year, according to bankers familiar with the situation.

BOC Aviation will be the second aircraft leasing company listed in Asia after China Aircraft Leasing Group CALC floated its shares in Hong...