Lock-up shares worth $9.8 billion eligible for trade in China
The amount is a sharp increase by 523.5 percent from that unlocked during the past week, according to Zhejiang-based Hithink RoyalFlush Information Network, a financial information provider.
About 4.6 billion shares will become tradable between May 8 and 12, with First Capital Securities Co. to unlock 980 million shares, the largest amount from a single company.
Under China's market rules, major shareholders must wait one to two years before they are permitted to sell their shares. ■