Fewer lock-up shares eligible for trade

Updated 2017-09-17 14:31:37 Xinhua

Lock-up shares worth about 38.65 billion yuan (nearly 6 billion U.S. dollars) will become eligible for trading on the Shanghai and Shenzhen stock exchanges in the coming week.

The amount is less than half the number from the previous week, according to data compiled by information service provider Wind.

Some 4 billion lock-up shares of listed companies will become tradable from Sept. 18 to 22. Chemical firm Inner Mongolia Yuan Xing Energy Co., Ltd. is set to unlock shares worth 2.87 billion yuan on Friday, the largest from a single company next week.

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

Chinese stocks closed lower on Friday with commodity shares dragging down the indices. The benchmark Shanghai Composite Index went down 0.53 percent to close at 3,353.62 points. The Shenzhen Component Index closed 0.07 percent lower at 11,063.1 points.

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