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Lock-up shares worth 23 bln yuan to become tradable

2019-09-08 23:30

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BEIJING, Sept. 8 (Xinhua) -- Lock-up shares worth about 23 billion yuan (about 3.29 billion U.S. dollars) will become eligible for trading on China's bourses next week.

From Monday to Thursday, 29 stocks will become tradable on the two stock exchanges in Shanghai and Shenzhen, according to data from Shujubao, a financial information provider run by Securities Times.

Friday is Mid-Autumn Festival holiday and stock market will be closed to trading.

The predicted tradable stock value slumped by 47 percent from the 43.7- 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 higher Friday, with the benchmark Shanghai Composite Index up 0.46 percent to 2,999.6 points. The Shenzhen Component Index closed 0.41 percent higher at 9,823.42 points.

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