BOC Aviation ends flat on HK debut

BOC Aviation Ltd, the aircraft leasing unit of Bank of China Ltd that raised $1.1 billion from a share sale last month, rose as much as 4.4 percent during the intraday trading on its debut in Hong Kong on Wednesday.

Shares in the company closed at HK$42 ($5.4), after jumping as high as HK$43.85 earlier. BOC Aviation sold new and existing shares at HK$42 apiece in Asia's second-biggest IPO this year, and it plans to use the proceeds to help pay for new planes.

"You have growth and high visibility of earnings and higher returns," said Mohshin Aziz, an analyst at Malayan Banking Bhd in Kuala Lumpur. "People want lower risk returns. The story that Asia is the strongest region for aviation growth for the next 20 years seems to get well."