Bicapital, the largest bank in Guatemala with over $15 billion in assets, withdrew its plans for an initial public offering on Wednesday. It originally filed in May 2015 with a proposed deal size of $345 million.
The Panama City, Panama-based company was founded in 1967 and booked $768 million in revenue for the 12 months ended June 30, 2017. It had planned to list on the NYSE under the symbol BICA. BofA Merrill Lynch, Citi and J.P. Morgan were set to be the joint bookrunners on the deal.
