7.9b yuan lockup shares for trade this week

BEIJING - Lockup shares worth 7.9 billion yuan ($128 million) will become eligible for trade this week, according to data from bourses.

The volume marked a sharp decrease from the 673.7 billion yuan seen from July 15 to 19.

Altogether, 16 listed companies on the Shanghai and Shenzhen stock exchanges will see their lock-up shares released to the capital market after the lock-up agreements expire next week.

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

Songz Automobile Air Conditioning Co Ltd will see non-tradable shares worth 1.7 billion yuan become tradable next week, the largest amount of such shares to hit the stock market next week.