Locked-up shares worth ¥12.7b eligible for trade

Locked-up shares worth about 12.7 billion yuan (about 1.9 billion U.S. dollars) will become eligible for trade on the Shanghai and Shenzhen stock exchanges in the coming week.

About 1.36 billion shares from 27 companies will become tradable on the exchanges from September 5 to 11, according to Choice, a financial information service provider.

Huadian Power International will see the unlocking of 845 million shares worth about 4.35 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 a one or two year lock-up before they are permitted to sell.

Source : XINHUA