Aircraft leasing company BOC Aviation Pte Ltd plans to launch its Hong Kong initial public offering, aiming to raise about $1.1 billion with a fixed-price listing, IFR reported on Wednesday, citing people close to the deal.

Singapore-based BOC Aviation, an arm of Bank of China Ltd , will likely sell shares at a fixed price equivalent to 1.1 times its 2016 price-to-book value, added IFR, a Thomson Reuters publication.

The company will also count on cornerstone investors to buy about 50 percent of the shares on offer, IFR said.

BOC Aviation did not immediately respond to a Reuters request for comment.