More lock-up stocks eligible for trade
(Xinhua) Updated: 2014-09-01 10:49BEIJING - The value of lock-up shares becoming eligible for trade on China's stock market from Monday to Friday will reach 58.9 billion yuan ($9.55 billion), according to data from two stock exchanges.
The volume is up by more than 95 percent from the previous week. A total of 17 listed companies on both the Shanghai and Shenzhen stock exchanges will see their lock-up shares become eligible for trade during the week.
Ping An Bank, a Shenzhen-based commercial bank controlled by Ping An Insurance Company, will see shares worth 32.2 billion yuan released to the market, the greatest value among the 17 companies.
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.
A rise in newly unlocked shares will put some downward pressure on the market due to the increase in stock supply.
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