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China,Hong Kong : CHINA AIRCRAFT aims to raise US $130 million through its IPO in HONG KONG

July 5, 2014

China Aircraft Leasing Group is aiming to raise US $130 million through its Initial Public Offering (IPO) in Hong Kong, which will become the first aircraft to list in the city.

China Aircraft through the sale of 132 million of its shares in order to finance the purchase of more aircraft.

Offering shares between HK $5.53 and HK $7.82, suggests 90% of the funds will go towards fleet expansion, with the remaining 10% set aside for working capital needs.

China Aircraft is looking at a Hong Kong-based IPO as European banks are distancing themselves from the business of leasing jets.

Domestic aircraft financiers have experienced rapid growth in tandem with China s mounting aircraft demand, as the country s economy slows down overall.

The last 3 years, the firm introduced financial services provider, China Everbright limited and China Aerospace Investment Holdings as its strategic investors, which broadens its shareholder and structure and enabling it to enhance its position.

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Source: TendersInfo (India)

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