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China's securities regulator said it's resuming the sale of non-tradable shares publicly listed companies on a trial basis.
The China Securities Regulatory Commission, in a statement, said the program starts from May 1. The commission will vet applications from companies seeking to sell the formerly "lock- up" shares.
The bulk of the shares are held by the Chinese government, which owns about two-thirds of stock in publicly listed companies in the nation's $400 billion markets.
The government has previously said it wants to sell the shares to finance pension funds. Previous attempts to sell non- tradable shares were delayed when markets tumbled on investor concern about a glut of stock.
(CRI.com via agencies May 2, 2005)
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