Reuters reported that Lehman Brothers may invest $20 to $30 million in Shenzhen Development Bank, one of China's five listed lenders, the official Shanghai Securities News reported. Lehman has been in talks about buying 32 million shares in the bank through a private placement that would give it a 1% stake, the newspaper said. The signing of a deal has been delayed by Shenzhen Development's efforts to reform its share structure, a process which many Chinese companies are now going through, it added. The bank has previously attracted investment from Newbridge Capital and General Electric's finance arm. The GE unit said last October it would pay $100 million for a 7.3% stake, although completion of the deal awaits the bank's share reform. Lehman's stake would bring the total foreign shareholding in Shenzhen Development up to 25%, the maximum permitted by law, the newspaper reported. Shenzhen Development posted a net profit of 220.53 million yuan ($27.6 million) in the first quarter of this year, up 47% from a year earlier.