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Lock-up shares worth 48.3b yuan to become tradable

Updated: May 3,2015 3:58 PM     Xinhua

BEIJING — Lock-up shares worth around 48.3 billion yuan ($7.79 million) will become eligible for trade on China’s stock market in the coming week, compared to 60.8 billion in the previous week.

Nearly 1.48 billion shares from 22 companies will become tradable on the Shanghai and Shenzhen stock exchanges from May 4 to 8, data from Southwest Securities showed on May 3.

Star Cable, one of the country’s leading producers of cable, will see the unlocking of 326 million non-tradable shares worth 2.92 billion yuan on May 7, the largest volume to be released next week in the Shanghai Stock Exchange.

Western Securities, one of China’s leading brokerages, will see the unlocking of 462 million non-tradable shares worth 29.3 billion yuan on May 4, the largest volume to be released next week in the Shenzhen bourse.

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.