Lock-up shares worth 88.5 bln yuan to become tradable
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E-mail Xinhua, July 12, 2020
BEIJING, July 12 (Xinhua) -- Lock-up shares worth about 88.5 billion yuan (about 12.7 billion U.S. dollars) will become eligible for trade in the coming week on China's bourses, excluding those listed on the Nasdaq-style science and technology innovation board.
Fifteen companies will see shares worth over 1 billion yuan each freed up for trading, with ZhongJi InnoLight Co., Ltd. ranking first with 17.3 billion yuan of lock-up shares to become tradable, according to data from ChinaDataPay, a financial information provider run by the Securities Times.
Under China's stock market rules, major shareholders must wait for one to two years before they are permitted to sell their shares.
Chinese stocks ended an eight-day winning streak to close lower Friday, with the benchmark Shanghai Composite Index down 1.95 percent at 3,383.32 points and the Shenzhen Component Index 0.61 percent lower at 13,671.24 points. Enditem
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