Bank of China listed on the stock split Aviation microliters

Updated: October 20, 2015  Views: 43

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Sina Financial News October 19, according to Finet reported that Bank of China (03988-HK) announced that its board of directors has been listed by the spin-off of BOC Aviation business (BOC Aviation) in Hong Kong, the sale will not exceed the size of the total share capital 40 %, including 20% of the shares and 20% of existing shares resulting IPO funds will be used to purchase new aircraft, as well as additional working capital, but has yet to have a specific timetable for the listing.

Bank of China pointed out that after its spin-off BOC Aviation, the Group will continue to have absolute controlling stake, will retain its name 'Bank' word. In addition, the continued profitable since its inception, according to BOC Aviation website, FY2014 achieve Net profit after tax $ 309 million, compared with 2013 annual increase of 11%, as of end of last year, total assets of $ 11.4 billion (HK $ 88.9 billion).

Bank of China said that through spin-off is expected to further rapid development of aviation leasing, and strategic upgrades will effectively promote the Bank of China, and will further strengthen its core competitiveness.

Bank of China early in 2006 to $ 3.2 billion acquisition of Singapore Aircraft Leasing Enterprise, and renamed BOC Aviation, over the years with more than 70 airlines worldwide business contacts, as one of Asia's largest aircraft leasing company.

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