Lock-up shares worth 29 bln yuan to become tradable

Xinhua News Agency | Oct 20, 2019 at 8:20 AM

BEIJING, Oct. 20 (Xinhua) -- Lock-up shares worth about 29 billion yuan (about 4.1 billion U.S. dollars) will become eligible for trading on China's bourses in the coming week.

From Monday to Friday, 29 stocks will become tradable on the two stock exchanges in Shanghai and Shenzhen, according to data from financial information provider Wind.

The predicted tradable stock value dropped 74.74 percent from the 114.85-billion-yuan prediction of the previous week.

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 closed lower on Friday, with the benchmark Shanghai Composite Index down 1.32 percent to 2,938.14 points. The Shenzhen Component Index closed 1.16 percent lower at 9,533.5 points.