Business / Markets

More lock-up shares eligible for trade

(Xinhua) Updated: 2014-03-24 10:09

BEIJING - The combined value of lock-up shares eligible for trade on China's stock market this week will surge from the previous week, according to China's stock exchanges.

From Monday to Friday, 24 listed companies in Shanghai and Shenzhen stock exchanges will see shares worth 33.5 billion yuan ($5.45 billion) released to the market after lock-up agreements expire.

The amount is much higher than a total value of 23.4 billion yuan that became tradable during the previous week.

Under China's market rules, major shareholders of non-tradable stocks are subject to a lock-up period of one or two years before they are permitted to sell their shares.

A surge in newly unlocked shares will have some downward pressure on the market as it means an increase in stock supply.

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