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Lock-up shares worth 93.7 bln yuan to become tradable

Xinhua, May 15, 2016 Adjust font size:

Lock-up shares worth 93.7 billion yuan (14.4 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.

The value is much larger than the 34.5 billion yuan and 17.2 billion yuan of the previous two weeks.

More new tradable shares means greater downward pressure on the market, which is still sensitive following slumps last year and early this year.

More than 9.2 billion shares from 52 companies will become tradable on the Shanghai and Shenzhen stock exchanges from May 16 to May 20, according to brokerage Southwest Securities.

State-owned Power Construction Corporation of China (Powerchina) will see 6.3 billion non-tradable shares worth about 37.9 billion yuan unlocked on Monday, the largest group of the week.

Under China's market rules, major shareholders of non-tradable stocks are subject to one or two years of lock-up before their shares can be traded. Endit