Lock-up shares worth ¥57.1b eligible for trade

Lock-up shares worth about 57.1 billion yuan (about 8.7 billion U.S. dollars) will become eligible for trade on the Shanghai and Shenzhen stock exchanges in the coming week.

About 7.4 billion shares from 33 companies will become tradable on the Shanghai and Shenzhen stock exchanges from August 22 to August 28, according to Choice, a financial information service provider.

Sinopec Shanghai Petrochemical Company will see the unlocking of 4.38 billion shares worth about 27.77 billion yuan, 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 a one or two year lock-up before they are permitted to sell.

Source : XINHUA