BOC Aviation Ltd has secured 11 cornerstone investors for its $1.1 billion Hong Kong IPO, tapping China Investment Corp and Boeing Co as it launched on Monday the largest listing by an aircraft lessor in at least five years. Sovereign wealth fund CIC and China’s state-backed Silk Road Fund will invest $100 million each and compatriot CDB International has committed $60 million, showed a term sheet seen by Reuters. Singapore-based BOC Aviation, a subsidiary of Bank of China Ltd., is betting on booming demand for air transportation in the world’s second-largest economy. Boeing forecasts Chinese demand of 6,330 new airplanes over the next 20 years with a total value at nearly $1 trillion.
China Economic Review