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Lock-up shares worth 19.1 bln yuan become tradable

Xinhua, March 1, 2015 Adjust font size:

Lock-up shares worth about 19.1 billion yuan (3.11 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.

Nearly 1.2 billion shares from 14 companies will become tradable on the Shanghai and Shenzhen stock exchanges from Monday to Friday, data compiled by Southwest Securities showed on Sunday.

Joyson Electronics, a Zhejiang-based electronic devices manufacturer, will see 5.4 billion yuan of non-tradable shares unlocked on Monday, the largest volume to be released next week.

Under China's market rules, major shareholders of non-tradable stocks are subject to one or two years of lock-up before they are permitted to trade the shares.

Over 380 billion yuan of non-tradable stocks from 90 companies will be unlocked in March, the biggest amount on a monthly basis since August 2013.

A rise in newly unlocked shares will put some downward pressure on the market due to the increase in stock supply. Endit