Lock-up shares worth 39.5 bln yuan to become tradable

Source: Xinhua| 2019-12-01 14:26:35|Editor: huaxia
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BEIJING, Dec. 1 (Xinhua) -- Lock-up shares worth about 39.45 billion yuan (about 5.61 billion U.S. dollars) will become eligible for trade on China's bourses in the coming week.

From Dec. 2 to Dec. 6, about 4.77 billion shares of 39 stocks will become tradable on the two stock exchanges in Shanghai and Shenzhen, according to data from financial information provider Wind.

The predicted tradable stock value surged 198.85 percent from this week's figure.

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 lower on Friday, with the benchmark Shanghai Composite Index down 0.61 percent, at 2,871.98 points. The Shenzhen Component Index closed 0.42 percent lower at 9,582.16 points.