Business     

More Chinese shares unlocked for trade

Xinhua, February 12, 2012

• About 16.09 billion yuan (2.56 billion U.S. dollars) worth of shares in 22 listed companies will be for sale on the markets from Monday, according to the Shanghai and Shenzhen stock exchanges.

  Of the 22 companies, the newly tradable shares in Southwest Securities China Shipbuilding Industry Company Limited and Jiangsu-based jean fabric maker Black Peony (Group) Co. Ltd. amounted to more than 12 billion yuan in market value, according to Friday's closing prices.

  The market value of shares freed from expiries of the lock-up periods more than tripled from the previous week.

  Even though China's benchmark stock index has rebounded about 6 percent since January, majority shareholders of listed firms were less willing to cut their equity holding last month amid the recent market rally.

  The volume of unlocked non-tradable shares sold in January fell 62 percent year-on-year to 104 million shares, a 44-month low.

  The volume of unlocked non-tradable shares sold in January was also 67 percent lower than that seen in December last year.

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