Business / Economy

Lock-up shares worth over 90b yuan to become tradable

(Xinhua) Updated: 2015-07-27 10:21

BEIJING - Lock-up shares worth around 90.6 billion yuan ($14.6 billion) will become eligible for trade on China's stock market next week.

The amount more than quintuples the worth of shares unlocked in the past week, which reached around 17.5 billion yuan.

Around 3.7 billion shares from 28 companies will become tradable on the Shanghai and Shenzhen bourses between July 27 and 31, according to Southwest Securities.

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.

Henan Shuanghui Investment & Development Co Ltd will see non-tradable shares worth around 31.4 billion yuan become tradable in Shenzhen on July 31, the largest number of such shares to hit the stock market in the period.

Chinese shares ended a six-day winning streak on Friday, with the benchmark Shanghai Composite Index closing 1.29 percent lower at 4,070.91 points.

Share prices fluctuated on rumors of the authorities retreating from supportive measures for the country's stock market, which had lost almost a third of its value since its peak in mid-June before rebounding on government bailout.

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