Lock-up shares worth 58.1b yuan eligible for trade

BEIJING - Lock-up shares worth 58.1 billion yuan ($9.5 billion) will become eligible for trade on China's stock market in the coming week.

A total of 3.48 billion shares from 26 companies will become tradable on the Shanghai and Shenzhen bourses from Monday to Friday, according to Southwest Securities on Sunday.

Under market rules, major shareholders of non-tradable stocks are subject to one or two years lock-up before they are permitted to trade.

Guanghui Energy Co Ltd will see non-tradable shares worth around 23.6 billion yuan become tradable on May 25.

On Friday, the previous trading day, the benchmark Shanghai Composite Index surged 2.83 percent, or 128.17 points, to finish at 4,657.6 points, the highest level in 7 years, while the Shenzhen Component Index gained 1.09 percent, or 173.27 points, to close at 16,045.8 points.