HONG KONG (May 11): Aircraft leasing company BOC Aviation Pte Ltd IPO-BOCA.HK plans to launch its Hong Kong initial public offering next Monday, aiming to raise about US$1.1 billion ($1.51 billion) with a fixed-price listing, IFR reported on Wednesday, citing people close to the deal.

Singapore-based BOC Aviation, an arm of Bank of China Ltd, will likely sell shares at a fixed price equivalent to 1.1 times its 2016 price-to-book value, added IFR, a Thomson Reuters publication.

The company will also count on cornerstone investors to buy about 50% of the shares on offer, IFR said.

BOC Aviation did not immediately respond to a Reuters request for comment.