Business / Markets

More lock-up shares to become tradable

(Xinhua) Updated: 2015-08-31 09:07

BEIJING - Lock-up shares worth around 44 billion yuan ($6.88 billion) will become eligible for trade on China's stock market next week.

About 2.85 billion shares from 15 companies will become tradable on the Shanghai and Shenzhen bourses, data from Southwest Securities showed.

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.

AVIC Capital will see non-tradable shares worth around 25.31 billion yuan become tradable on the Shanghai Stock Exchange on Monday, the largest amount to hit the market next week.

Chinese stocks recovered more than 10 percent in total on Friday and Thursday, after a five-day losing streak that wiped out a fifth of the market value. The benchmark Shanghai Composite Index climbed 4.82 percent to close at 3,232.35 points on Friday, following a 5.34-percent rebound on Thursday.

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