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Lock-up period of shares worth 116.3 bln yuan to end

Xinhua, September 6, 2015 Adjust font size:

Next week, China's stock market will see the lifting of lock-up restrictions on shares worth around 116.3 billion yuan (18.28 billion U.S. dollars), nearly double the amount unlocked this week.

About 5.37 billion shares from 53 companies will become tradable on the Shanghai and Shenzhen bourses from Sept. 7, data from Southwest Securities showed.

Under China's market rules, major shareholders of non-tradable stocks are subject to a one or two year lock-up period.

Beijing Xinwei Telecom Technology Group Co. will see non-tradable shares worth around 53.07 billion yuan become tradable on the Shanghai Stock Exchange on Sept. 10, the largest amount to hit the market next week.

The unlocked shares may help the volatile stock market, which has been on a roller-coaster ride over the past five trading days.

Chinese shares extended losses on Wednesday, with the benchmark Shanghai Composite Index dipping 0.2 percent to end at 3,160.17 points. Endi