Lock-up shares worth ¥38.87bln eligible for trade

Lock-up shares worth about 38.87 billion yuan (about 5.8 billion U.S. dollars) will become eligible for trade on the Shanghai and Shenzhen stock exchanges in the coming week.

About 2.23 billion shares from 27 companies will become tradable on the exchanges from September 26 to 30, data from Southwest Securities showed.

The volume was down from the 70 billion yuan in shares unlocked this week.

Avic Electricmechanical Systems Co. will see the unlocking of 825 million shares worth about 14.43 billion yuan, the largest group of locked-up shares to hit the market.

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 sell.

Source : XINHUA