Fewer lock-up shares eligible for trade in coming week

Fewer lock-up shares eligible for trade in coming week

BEIJING, March 4 (PNA/Xinhua) — Lock-up shares worth about 18.4 billion yuan (about USD 2.67 billion) will become eligible for trade on the Shanghai and Shenzhen stock exchanges in the coming week.

About 524 million shares of 26 listed companies will become tradable from March 6 to 10, according to China Securities Journal.

The value of the shares that will be tradable is sharply down from the 35.5 billion yuan from Feb. 27 to March 3 in the previous week.

Boya Bio-pharmaceutical, based in east China’s Jiangxi Province, is set to unlock shares worth 4.88 billion yuan, the largest volume to be released next week.

Under China’s market rules, major shareholders have to wait one to two years before they are permitted to sell their shares.

China’s benchmark Shanghai Composite Index fell 0.36 percent to 3,218.31 points Friday, while the Shenzhen Component Index edged up 0.29 percent to finish at 10,397.05 points. (PNA/Xinhua)

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