Lock-up shares worth nearly ¥16b eligible for trade

Lock-up shares worth about 15.88 billion yuan (about 2.39 billion U.S. dollars) will become eligible for trade on the Shanghai and Shenzhen bourses in the coming week.

The value is lower than the previous week's 19.2 billion yuan, according to eastmoney.com, a financial information provider.

The lion's share of the new shares belongs to Wuxi Lead Intelligence Equipment Co., with more than 66.98 million non-tradable shares worth 2.31 billion yuan to be unlocked on Monday.

Other listed firms that will see large quantities of lock-up shares turn tradable include Wuhan Sanzhen Industry Holding Co., an infrastructure investment firm, and Tsinghua Tongfang Co., a state-owned business engaged in electronics and information technology.

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 these stocks.

Chinese stocks closed higher Friday, with the benchmark Shanghai Composite Index going up 1.6 percent to close at 3,050.67 points.

Source : XINHUA