CBD Leasing prices IPO at HK$2 per share

Cornerstone investors account for 78.6pc, of global listing valued at $6.02b

PUBLISHED : Friday, 08 July, 2016, 11:11pm
UPDATED : Friday, 08 July, 2016, 11:11pm

China Development Bank Financial Leasing has announced the pricing of its Hong Kong initial public offering of 3.1 billion shares at HK$2 per H-share, which gives it an estimated value of HK$6.0237 billion.

The company, a subsidiary of China Development Bank Corporation, provides financial leasing for the aircraft, infrastructure, shipping, commercial vehicle and construction machinery industries.

Conerstone investors have accounted for 78.59 per cent of the shares, the company’s filing said.

The six conerstone investors are Three Gorges Capital Holdings Co Ltd, China Reinsurance (Group) Corporation, Hengjian International Investment Holding, Fortune Eris Holding Company Limited, Dank of China Group Investment Limited and CCCC International Holding Limited.

Last month, Asia’s largest aircraft lessor BOC Aviation, a Bank of China subsidiary, made its trading debut in Hong Kong after raising HK4.52 billion from its cornerstone investors, which included Boeing.

Founded in 1984, China Development Bank Financial leasing is headquartered in Shenzhen.