More lock-up shares eligible for trade
Xinhua, March 13, 2016 Adjust font size:
Lock-up shares worth about 25.5 billion yuan (3.93 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.
The value is much higher than the previous week's 7.7 billion yuan.
Over 2.9 billion shares from 28 companies will become tradable on the Shanghai and Shenzhen stock exchanges from Monday to Friday, according to brokerage Southwest Securities.
The Beijing-based carmaker Foton Motor will see the unlocking of 525 million non-tradable shares worth about 2.75 billion yuan on Friday.
About 65 percent of all the upcoming shares in terms of value, worth 16.7 billion yuan, will hit the market on Monday, putting pressure on the market.
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. Endi