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Lock-up shares worth 51.6 bln yuan to become tradable

Xinhua, September 27, 2015 Adjust font size:

China's stock market will see the lifting of lock-up restrictions on shares worth around 51.6 billion yuan (8.09 billion U.S. dollars) in the coming week.

About 2.67 billion shares in 28 companies will become tradable on the Shanghai and Shenzhen bourses from Sept. 28.

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

Cecep Wind-power Co. will see non-tradable shares worth around 10 billion yuan become tradable in Shanghai on Sept. 29, the largest amount to hit the market next week.

Chinese shares closed lower on Friday as the country's slowing growth continued to weigh on market sentiment.

The major Shanghai index has plummeted around 40 percent since its peak on June 12, and has lost all of its gains since the beginning of the year. Endi