Lock-up shares worth over 79 bln yuan eligible for trade next week

BEIJING, May 7 (Xinhua) -- Lock-up shares worth about 79.38 billion yuan (around 11.97 billion U.S. dollars) will become eligible for trade on China's bourses next week.

From May 9 to 13, a total of 6.88 billion shares will become tradable on the Shanghai and Shenzhen bourses, according to data from financial information provider Wind.

Under China's stock market rules, major shareholders must wait for one to two years before they are permitted to sell their shares.

Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 2.16 percent, at 3,001.56 points. The Shenzhen Component Index closed 2.14 percent lower at 10,809.88 points.