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60.47 bln yuan lock-up shares to become tradable

Xinhua, May 22, 2016 Adjust font size:

Lock-up shares worth 60.47 billion yuan (9.3 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.

The value is smaller than that of lock-up shares in the previous week.

More than 4.81 billion shares from 49 companies will become tradable on the Shanghai and Shenzhen stock exchanges from May 23 to May 27, according to brokerage Southwest Securities.

China Northern Rare Earth (Group) High-tech Co. will see 1.41 billion non-tradable shares worth about 19.23 billion yuan unlocked on Wednesday, 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. Endi