07-07-2025
China's Small Banks Cancel IPOs, Delist on Concern Over Profits
Chinese small lenders are pulling their applications for initial public offerings and delisting, even as overall share sales have recovered and bank stocks surged, underscoring the the profit challenges still faced by the sector.
Guangdong Shunde Rural Commercial Bank Co. has withdrawn its application to float shares on China's Shenzhen Stock Exchange, according to a filing on Friday. The move, which followed a similar action by Bank of Guangzhou Co. in January, marks the second this year and leaves just five banks still queuing up for IPO in the mainland.
