Aircraft-leasing duo plan IPOs

摘要

Two Chinese aircraft-leasing companies plan to raise a combined US$5bn from Hong Kong IPOs, setting the stage for other such listings on the back of reforms in the country's banking sector. Bank of China, one of the country's Big Four lenders, announced on October 18 that it had secured board approval for a proposed spin-off and separate listing of subsidiary boc aviation on the main board of the Stock Exchange of Hong Kong. The news came less than a week after IFR reported that cdb leasing, an aircraft-leasing unit of China Development Bank, the largest PRC policy bank, aimed to raise about US$1bn through a Hong Kong IPO in the first half of2016. BOCA, headquartered in Singapore, invited banks to pitch for roles of sponsors on the IPO immediately after board approval for the proposed listing. A beauty contest was held last week.