Lock-up shares worth 7.9 bln yuan eligible for trade

Date : 2013-07-23  | From : Xinhua

Lock-up shares worth 7.9 billion yuan (128 million U.S. dollars) will become eligible for trade next week, according to data from bourses.

The volume marked a sharp decrease from the 673.7 billion yuan seen from July 15 to 19.

Altogether, 16 listed companies on the Shanghai and Shenzhen stock exchanges will see their lock-up shares released to the capital market after the lock-up agreements expire 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 trade the shares.

Songz Automobile Air Conditioning Co. Ltd will see non-tradable shares worth 1.7 billion yuan become tradable next week, the largest amount of such shares to hit the stock market next week.