HONG KONG, May 12 (Reuters) - Bank of China Ltd (BoC) said on Thursday its aviation leasing unit will raise $1.13 billion in an initial public offering (IPO) in Hong Kong.
The IPO will consist of 208.2 million shares of BOC Aviation Pte Ltd <IPO-BOCA.HK> at HK$42 each, including 104.1 million new shares from the unit and 104.1 million existing shares from a BoC subsidiary, the bank said in a securities filing. That would put the total deal at HK$8.74 billion ($1.13 billion).
BoC, China's fourth-biggest lender by assets, said the IPO would value the aviation leasing unit at about $3.8 billion. ($1 = 7.7595 Hong Kong dollars) (Reporting by Elzio Barreto; Editing by Muralikumar Anantharaman)