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More Lock-up Shares Become Eligible for Trade

Lock-up shares worth about 47.84 billion yuan (more than $7 billion) will become eligible for trading on Shanghai and Shenzhen stock exchanges in the coming week.

The amount is 42.09 percent more than this week, according to Zhejiang-based Hithink RoyalFlush Information Network, a financial information provider.

Lock-up shares from 34 listed companies will become tradable from July 24 to 28. Electric car maker BYD Co. Ltd. is set to unlock shares worth 12.73 billion yuan on July 18, the largest from a single company next week.

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

Chinese stocks closed mixed July 21 after three consecutive days of gains. The benchmark Shanghai Composite Index was down 0.21 percent to close at 3,237.98.

(Xinhua News Agency July 23, 2017) 

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