Lock-up shares worth about 99.3B yuan to become tradable

Lock-up shares worth around 99.3 billion yuan (about 14.4 billion U.S. dollars) will become eligible for trade on China's bourses next week.

During this period, nearly 7.86 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.

The aggregate market value of these shares is calculated with their closing prices on Feb. 24, the previous trading day.

Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.62 percent to 3,267.16 points. The Shenzhen Component Index closed 0.81 percent lower at 11,787.45 points.