Lock-up shares worth 55.6b yuan to become tradable in China

BEIJING - Lock-up shares worth around 55.6 billion yuan ($7.8 billion) will become eligible for trade on China's bourses next week.

From July 24 to July 28, about 2.73 billion shares will become tradable on the Shanghai and Shenzhen bourses, according to data from financial information provider Wind.

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

The aggregate market value of these shares is calculated with their closing prices on July 21, the previous trading day.

Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.06 percent to 3,167.75 points. The Shenzhen Component Index closed 0.06 percent lower at 10,810.18 points.