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SGX: Where “T” in “FT” stands for “Trash”

In Uncategorized on 16/05/2016 at 10:12 am

S’pore aircraft lessor to launch IPO in HK.

Another blow to SGX where with the exception of CEO, senior managers are FTs.

Singapore-based leasing company BOC Aviation is planning an initial public offering (IPO) worth $1.5 billion-$2 billion …, according to an application filed with the Hong Kong Stock Exchange (HKSE).

BOC Aviation, the Bank of China’s aircraft leasing division, will place the offering on the HKSE through the Goldman Sachs banking group. It said it will create up to 50% of the offering as new shares, with the remainder offered from within the tranche of existing shares held by BOC Aviation.

The company prospectus said IPO proceeds would concentrate on its “core business model of focusing on purchasing new, fuel-efficient, in-demand aircraft at competitive prices directly from aircraft manufacturers” for operators across the region and further afield.

Established in 1993 as Singapore Aircraft Leasing Enterprise (SALE), BOC Aviation has seen solid growth and is now one of the top 10 global leasing companies with 270 aircraft on its books valued at up to $12 billion.

The original SAL company was sold to BOC in 2006 for $965 million. In 2015 the company posted a net profit of $343 million, up 11% year-on-year.

BOC Aviation has agreements with 62 operators in 30 countries; in January 2016 it placed a $3 billion order for 30 Airbus A320 aircraft. It has also committed to acquiring more than 240 more aircraft in the coming years to be serviced by its Singapore, Dublin, London, Seattle and Tianjin offices.

http://atwonline.com/leasing/singapore-lessor-boc-aviation-launch-ipo

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  1. Do the senior managers that you eloquently label “trash” not report to the CEO…..Just a reminder in case you cant see through your xenophobic haze… ….”a chief executive officer, the highest-ranking person in a company or other institution, ultimately responsible for taking managerial decisions”. You’re welcome.

  2. Not really. Been there for a year. Seasoned banker from BAML Deutsche (Trash banks) so why hire him if he cant hit the ground running buddy? Also BOC Aviation is part of bank of China…..Is it that surprising they chose Hong Kong?????

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