China Aircraft Leasing shares rise 2.2 pct in HK debut

SINGAPORE, July 11 Thu Jul 10, 2014 9:37pm EDT

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SINGAPORE, July 11 (Reuters) - Shares in China Aircraft Leasing Group Holdings Ltd (CALG), Asia's first listed plane lessor, ticked up 2.2 percent on their Hong Kong trading debut as the company seeks to tap into voracious appetite for aircraft in the world's fastest-growing aviation market.

Shares in the lessor, which has a local industry market share of 3 percent, traded at HK$5.65 on Friday, compared with an initial public offering price of HK$5.53 each, the bottom of an indicated range of HK$5.53-HK$7.82. CICC, China Everbright Securities and CCB International were joint bookrunners on the IPO.

The IPO by CALG, partly owned by a subsidiary of state-backed financial conglomerate China Everbright Group, raised HK$729 million ($94 million). CALG plans to use nearly all the funds to acquire aircraft.

($1 = 7.7496 Hong Kong Dollars) (Reporting by Anshuman Daga; Editing by Kenneth Maxwell)

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