More lock-up shares eligible for trade
Xinhua, January 17, 2016 Adjust font size:
Lock-up shares worth about 78.3 billion yuan (11.9 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.
The value was much higher than the previous week's 36.2 billion yuan.
Over 3.5 billion shares from 36 companies will become tradable on the Shanghai and Shenzhen stock exchanges from Monday to Friday, according to brokerage Southwest Securities.
Fujian Province brokerage Industrial Securities will see the unlocking of nearly 1.5 billion non-tradable shares worth 12.2 billion yuan on Monday.
On Friday, leading Chinese cinema chain Wanda Cinemas will have 286 million shares worth 28.7 billion yuan unlocked, 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.
Nearly half of all the upcoming shares in terms of value will hit the market on Friday, putting pressure on the market.
China's stock market has witnessed a rocky start to 2016 amid global market turbulence, with the benchmark Shanghai Composite Index declining about 18 percent in two weeks. Endi