Oman Investment Fund, a sovereign wealth fund of the Government of Oman, has agreed to buy shares worth $50 million in the initial public offering (IPO) of BOC Aviation, the aircraft leasing unit of Bank of China, said a report.

BOC Aviation attracted investors including Boeing and the Chinese sovereign wealth fund (SWF) to buy shares in its $1.1 billion IPO in Hong Kong, added the Times of Oman report.

Spurred by strong economic growth in the past decade and rising incomes in the world’s two most-populous countries, China and India, Asia is on course to beat the US as the biggest plane-leasing market, according to Airbus Group and Boeing.

With this IPO, BOC Aviation will become the second dedicated Asian air lessor to go public after smaller competitor China Aircraft Leasing Group Holdings made its debut in Hong Kong in July 2014.