1 June 2016, King & Wood Mallesons (“KWM”) acted as the PRC legal counsel for BOC Aviation Limited (“BOC Aviation”, stock code: 2588), advising on its successful initial public offering (“IPO”) on the main board of The Stock Exchange of Hong Kong Limited. The base issuance size of BOC Aviation’s global offering is 208 million shares and the offer price is HK$42 per share. The project marks the third largest IPO on the global capital markets and the second largest IPO on Hong Kong capital market as of the end of May in 2016. The project was the listing in Hong Kong of a spin-off subsidiary of Bank of China Limited (an A-share and H-share listed company), making it also the first IPO of a spin-off subsidiary of a listed state-owned commercial bank.

BOC Aviation is an aircraft operating leasing company registered in Singapore. It is also the largest aircraft operating leasing company headquartered in Asia and the fifth largest global operating leasing company. The IPO marks BOC Aviation as the first among the world’s top ten aircraft leasing companies to go public in the Asian capital market. The global public offering has attracted 11 cornerstone investors, including China Investment Corporation, Silk Road Fund Co., Ltd., China Development Bank International Holdings Limited, China Life Franklin Asset Management Co., Limited, Fosun International Limited and The Boeing Company. The total amount of cornerstone investment reached HK$4,525 million, which represents approximately 51.7% of the total number of offer shares (assuming the over-allotment option is not exercised) and approximately 15.5% of the total issued shares following the completion of the global offering. BOC Aviation’s shares offered in the Hong Kong Public Offering have been oversubscribed 37.62 times and the shares offered in the International Offering were well oversubscribed as well.

The project was led by KWM partners Zhou Ning and Liu Sijia.