Trading in Shenzhen Development Bank (SDB) shares was suspended yesterday after media reports that China Development Bank (CDB) planned to acquire a stake in the former.

The mid-sized Chinese lender's stock touched the 10 percent daily limit to 14.99 yuan, before trading was suspended in the afternoon.

CDB has sent an acquisition plan to the China Banking Regulatory Commission (CBRC), the country's banking regulator, the Economic Observer reported.