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Untradable shares worth nearly 60 billion yuan will be released on both the Shanghai and Shenzhen stock exchanges this week.
According to Southwest Securities, 4 billion untradable shares from 22 companied will be released and flood onto market from August 9th to the 13th. Based on the close price on August 6th, the total market value of those shares will reach 59 billion yuan. That's three times last week's release, and the highest in a single week since the second half of May.
On the Shanghai stock market, 800 million shares from 2 companies will be released, worth 9 billion yuan. And in Shenzhen, 3.2 billion shares from 20 firms will be unlocked, worth 50 billion yuan.