Bank of China BOC, the country’s fourth-biggest lender by assets, has approved the initial public offering of its wholly owned aircraft leasing unit in Hong Kong.
BOC Aviation joins CDB Leasing in the IPO pipeline in what is shaping up to be an important new sector for Asia equity capital markets. To date, only China Aircraft Leasing Corp CALC has listed in the city, raising HK$728.9 million $94 million from a 131.78 million share IPO in July 2014.
There is also one A-share listed company, Bohai Leasing, which is traded in Shenzhen and has a market capitalisation of $4.4 billion. In early...
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