More lock-up shares to become tradable
Xinhua, March 27, 2016 Adjust font size:
Lock-up shares worth about 25.6 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 smaller than shares worth over 100 billion yuan that entered the market last week.
More than 2.2 billion shares from 32 companies will become tradable on the Shanghai and Shenzhen stock exchanges from Monday to Friday, according to brokerage Southwest Securities.
Delian Group, the Guangdong-based auto service provider, will see the unlocking of 411 million non-tradable shares worth 4.1 billion yuan on Monday, the largest batch of shares to hit the market during the week.
About 74 percent of all the upcoming shares in terms of value, worth 19 billion yuan, will be unlocked 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