SINGAPORE (May 31): BOC Aviation, Asia’s biggest aircraft lessor, will make its trading debut on the Hong Kong Stock Exchange (HKEX) on Wednesday. It will carry the stock code 2588 and trade in lots of 100 shares each.

The company raised HK$8.7 billion ($1.5 billion) in its initial public offering. The company sold new and vendor shares at HK$42 each, or 1.6 times its book value. BOC Aviation plans to use the proceeds to help pay for new planes.

Currently, it has 270 planes and its customers include IAG's Vueling Airlines, Iberia, Southwest Airlines, Aeroflot, EVA Airways, Singapore Airlines' India affiliate Vistara, and WestJet Airlines, according to Bloomberg.

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