More lock-up shares eligible for trade
BEIJING — Lock-up shares worth about 62.14 billion yuan ($9.41 billion) will become eligible for trading on the Shanghai and Shenzhen stock exchanges this week.
The amount more than triples that of the previous week, according to information service provider Wind.
Some 5.8 billion lock-up shares of 50 listed companies will become tradable from Dec 4 to Dec 8, with brokerage HuaAn Securities set to unlock shares worth around 15.18 billion yuan, the biggest to hit the market during the period.
Under China's market rules, major shareholders must wait one to two years before they are permitted to sell their shares.
Chinese stocks closed higher Friday. The benchmark Shanghai Composite Index closed 0.01 percent higher at 3,317.62, while the Shenzhen Component Index closed 0.63 percent higher at 11,013.15.
