Asia’s largest aircraft lessor BOC Aviation made its trading debut on the Hong Kong stock exchange Wednesday, after raising HK$4.52 billion from cornerstone investors including Boeing.
The company’s shares ended the session unchanged at HK$42, equal to its offer price, after trading as much as 4.4 per cent higher during intraday trade.
The Bank of China subsidiary’s Hong Kong public offering was 38.6 times oversubscribed. A total of 31.23 million shares, or 15 per cent of its global offering, were alloted to Hong Kong investors after the addition of 15.6 million shares.
“There is plenty of demand for capital [in aircraft leasing], and we are delighted to lead Asian lessors to be able to raise that capital here in Asia rather than having to go to the New York Stock Exchange, which is what international competitors have done,” Robert Martin, managing director and chief executive of BOC Aviation, said.
BOC Aviation Managing Director & Chief Executive Officer Robert Martin (Left) and Bank of China Chairman Tian Guoli attend BOC Aviation listing ceremony at HKEX. Photo: Dickson Lee
