Economic review

Fewer lock-up shares eligible for trade

2018-02-11 13:36:00 (Beijing Time)         Xinhua


Lock-up shares worth over 31.6 billion yuan (about 5 billion U.S. dollars) from 26 companies will become eligible for trading on the Shanghai and Shenzhen stock exchanges next week.

The number is less than the 38.3 billion yuan seen previous week, according to information service provider Wind.

Wintime Energy will see non-tradable shares worth over 22 billion yuan become tradable next week, the largest number from a single company.

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

China's major stock indices plunged last Friday, hours after major stock indices in the United States and Europe tumbled.

The benchmark Shanghai Composite Index fell by 4.05 percent to end at 3,129.85, narrowing from the 6.1-percent slump during afternoon trading, which was the biggest daily fall since February 2016.