HONG KONG, April 4 Aircraft leasing company GE Capital Aviation Services (GECAS)plans to raise about $700 million in an initial public offering in Hong Kong, IFR reported on Friday, citing sources familiar with the plans.
The IPO could take place as soon as the second quarter of 2014, after the company gave up plans for a listing in Singapore of a business trust, added IFR, a Thomson Reuters publication. GECAS has already filed a listing application with the Hong Kong stock exchange, IFR said.
Citigroup was hired to manage the GECAS IPO.
GECAS is the aviation leasing arm of General Electric Co . (Reporting by Fiona Lau and Daniel Stanton of IFR; Writing by Elzio Barreto; Editing by Kim Coghill)