Locked shares worth 40.48 bln yuan to become tradable next week

BEIJING, June 12– Locked shares from 61 companies will become eligible for trade on China’s bourses next week. Based on the latest closing prices, these shares are worth 40.48 billion yuan, according to data from financial information provider Wind. Under China’s stock market rules, major shareholders must wait for one to two years before they are permitted to…

BEIJING, June 12 (Xinhua) — Locked shares from 61 companies will become eligible for trade on China’s bourses next week.

Based on the latest closing prices, these shares are worth 40.48 billion yuan (around 6.04 billion U.S. dollars), according to data from financial information provider Wind.

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 higher on Friday, with the benchmark Shanghai Composite Index up 1.42 percent, at 3,284.83 points. The Shenzhen Component Index closed 1.9 percent higher at 12,035.15 points. Enditem