Business / Markets

Lock-up shares worth 33.7b yuan to become tradable

(Xinhua) Updated: 2015-10-07 14:54

BEIJING - Lock-up restrictions will be lifted on Chinese shares worth around 33.79 billion yuan ($5.51 billion) this week.

About 2.52 billion shares in 16 companies will become tradable on the Shanghai and Shenzhen stock markets on Thursday and Friday, two trading days after the seven-day National Day holiday.

Under China's market rules, major shareholders of non-tradable stocks are subject to a one- or two-year lock-up period.

China Molybdenum Co, Ltd will see non-tradable shares worth around 18.76 billion yuan become tradable in Shanghai on Friday, the largest amount to hit the market this week.

The major Shanghai index has plummeted around 40 percent since its peak on June 12, and has lost all of its gains since the beginning of the year.

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