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Lock-up shares worth 16.32 bln yuan eligible for trade

Xinhua, November 19, 2016 Adjust font size:

Lock-up shares worth about 16.32 billion yuan (about 2.37 billion U.S. dollars) will become eligible for trade on the Shanghai and Shenzhen stock exchanges in the coming week.

About 1.68 billion shares from 30 companies will become tradable on the exchanges from November 21 to 25, according to RoyalFlush Information, a financial information service provider.

The volume was sharply down from more than 40 billion yuan of shares unlocked this week.

Xinhu Zhongbao Co., a Zhejiang-based investment company, will see the unlocking of 962 million shares, the largest group of locked-up shares to hit 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 sell. Endi