Lock-up shares worth 48 bln yuan become tradable

Lock-up shares worth some 48 billion yuan (about 7.82 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.

A total of nearly 3.88 billion shares from 41 companies will turn tradable on the Shanghai and Shenzhen stock exchanges from Monday to Friday, data from the two bourses showed.

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.

The value of the upcoming shares dropped from 71.3 billion yuan becoming tradable in the previous week, meaning less downward pressure on the market.

Shaanxi Coal Industry Co., a Shanghai-listed coal miner, will see 14.59 billion yuan of non-tradable shares unlocked on Wednesday, the largest volume to be released next week.