Lock-up shares worth 76 bln yuan eligible for trade

Lock-up shares worth 75.8 billion yuan (12.4 billion U.S. dollars) will become eligible for trade on China's stock market next week.

The amount is slightly bigger than the 71 billion yuan unlocked in the previous week.

A total of 5.74 billion shares from 26 companies will be tradable on the Shanghai and Shenzhen bourses from July 6 to July 10, according to Southwest Securities.

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.

Suning Commerce Group Co., Ltd. will see non-tradable shares worth around 29.7 billion yuan become tradable on July 10, the largest amount of such shares to hit the stock market in the period.

The Chinese stock market experienced a slump over past weeks, with the benchmark Shanghai Composite Index diving 5.77 percent to close at 3,686.92 points Friday and losing more than 28 percent from its peak on June 12.

A raft of measures has been rolled out to stabilize the market, with 28 companies that have obtained permission from the securities watchdog for initial public offerings (IPOs) announcing Saturday evening they would postpone follow-up issue of shares due to recent market fluctuations. Endi