Business     

More Chinese lock-up shares eligible for trade

Xinhua, August 17, 2014

• The value of lock-up shares becoming eligible for trade on China's stock market from Monday to Friday will reach 48.4 billion yuan (7.87 billion U.S. dollars), according to data from two stock exchanges.

  The volume was up by 14 percent from the previous week. A total of 28 listed companies on both the Shanghai and Shenzhen stock exchanges will see their lock-up shares become eligible for trade during the week.

  Zhejiang Kaishan Compressor Co., Ltd., a leading producer of air compressors in China, will see shares worth 9.78 billion yuan released to the market on Tuesday, the greatest value among the 28 companies.

  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 trade the shares.

  A rise in newly unlocked shares will put some downward pressure on the market due to the increase in stock supply.

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