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Lock-up shares worth $9.8 billion eligible for trade in China

Staff Writer |
Lock-up shares worth about 67.8 billion yuan ($9.8 billion) will become eligible for trade on the Shanghai and Shenzhen stock exchanges in the coming week.

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.

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