According to Reuters, citing a statement made to the Shanghai Stock Exchange, Bank of China has voted to spin off its aviation leasing unit in a Hong Kong share sale.

Reuters said that the bank will raise funds by selling up to 40% of the firm through a listing of new and old shares on the main board of the Hong Kong Stock Exchange.

In addition, Reuters noted that the bank will sell 90% of the offer to international investors and 10% to investors in Hong Kong, while the bank will remain the controlling shareholder of the leasing firm, it said.