Lock-up shares worth over 50 bln yuan to become tradable
Xinhua, May 28, 2016 Adjust font size:
Lock-up shares worth 51.8 billion yuan (7.9 billion U.S. dollars) will become eligible for trade on China's stock market next week.
More than 2.7 billion shares from 35 companies will become tradable on the Shanghai and Shenzhen bourses from May 30 to June 3, according to market information provider Wind.
More new tradable shares means downward pressure on the market, which is still sensitive following slumps last year and early this year.
Sichuan Kelun Pharmaceutical Co. Ltd. will see the unlocking of 524 million shares worth about 7.5 billion yuan on Thursday, the largest group of shares to hit the market next 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 are permitted to trade. Endit