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Lock-up shares worth 19.1 bln yuan to become tradable

BEIJING, July 13 (Xinhua) — Lock-up shares worth about 19.1 billion yuan (about 2.8 billion U.S. dollars) will become eligible for trading on China’s bourses next week.

From July 15 to July 19, about 3.36 billion shares will become tradable on the Shanghai and Shenzhen stock exchanges, according to data from financial information provider Wind.

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

Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.44 percent to close at 2,930.55. The Shenzhen Component Index closed 0.66 percent higher at 9,213.38.

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