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Lock-up shares worth over 60 bln yuan eligible for trade

Xinhua, May 10, 2015 Adjust font size:

Lock-up shares worth 68.31 billion yuan (over 11 billion U.S. dollars) will become eligible for trade on China's stock markets in the next week.

A total of 11.18 billion shares from 27 companies will be tradable on the Shanghai and Shenzhen bourses from May 11 to 15, up from 48.3 billion yuan shares unlocked this week, data from 10jqka.com, a stock information website showed.

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

Agricultural Bank of China will see non-tradable shares worth around 36.1 billion yuan become tradable on May 15, the largest amount of such shares to hit the stock market in the period.

Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index rose 2.28 percent to finish at 4,205.92 points. Endi