More lock-up shares eligible for trade

BEIJING - The total worth of lock-up shares eligible for trade on China's stock market this week will surge from the previous week, according to China's stock exchanges.

Altogether, 23 listed companies on the Shanghai and Shenzhen stock exchanges will see shares worth 37.1 billion yuan ($6.05 billion) released to market after lock-up agreements expire.

The amount more than doubles last week's unlocked shares valued at around 16.1 billion yuan.

China Resources Sanjiu Medical & Pharmaceutical Co Ltd, a Shenzhen-listed company, will see non-tradable shares valued at 15.2 billion yuan become tradable, the most among the 23 companies.

Under China's market rules, major shareholders of non-tradable stocks are subject to lock-up for one or two years before they are permitted to trade.

The surge in newly unlocked shares will have some downward pressure on the market as it means an increase in stock supply.