Lock-up shares worth nearly ¥35b eligible for trade

Lock-up shares worth about 34.66 billion yuan (about 5.3 billion U.S. dollars) will become eligible for trade on the market in the coming week.

About 1.84 billion shares of 31 companies will become tradable on the Shanghai and Shenzhen stock exchanges from Aug. 29 to Sept. 2, according to RoyalFlush Information, a financial information service provider.

Everbright Securities will see the unlocking of 488.7 million shares worth about 8.49 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 one or two years of lock-up before they are permitted to sell.

Chinese stocks closed higher Friday, with the benchmark Shanghai Composite Index up 0.06 percent to close at 3,070.31 points.

Source : XINHUA