BUSINESS Less lock-up shares eligible for trade next week

BUSINESS

Less lock-up shares eligible for trade next week

Xinhua

09:39, August 06, 2018

Lock-up shares worth about 17.9 billion yuan ($2.6 billion) will become eligible for trading on China's bourses next week.

Over 1.78 billion shares will become tradable on the Shanghai and Shenzhen stock exchanges from Aug. 6 to 10, according to information service provider Wind Info. In the previous week, 3.9 billion shares worth 38 billion yuan became tradable.

Jiangsu Yabaite Technology will contribute the largest amount of lock-up shares, with some 423 million shares becoming tradable on Monday.

Under China's market rules, major shareholders must wait for one to two years before they are permitted to sell their shares.

Chinese stocks declined Friday, with the benchmark Shanghai Composite Index down 1 percent to close at 2,740.44. The Shenzhen Component Index closed 2.03 percent lower at 8,602.12.

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