Lock-up shares worth 8.9 bln yuan eligible for trade

Lock-up shares valued at about 8.9 billion yuan (about 1.45 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.

The volume declined from 15 billion yuan for the previous week, data from the Shanghai and Shenzhen stock exchanges showed on Sunday.

Altogether, lock-up shares from 12 listed companies on the two bourses will be released to the capital market.

Songdu Corporation, a property developer based in the eastern scenic city of Hangzhou, will see non-tradable shares worth at least 3 billion yuan become tradable on Oct. 22, the largest amount of such shares to hit the stock market in the 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.