Baotou INST Magnetic New Material (SHE:301622) on June 4 will release 1,494,886 shares, accounting for 1.29% of the company's total post-initial public offering share capital, from restriction.

The shares were subject to a six-month lock-up as part of IPO rules, according to a Thursday filing with the Shenzhen bourse.

Once released, the magnetic device manufacturer's unrestricted shares will increase to 25% of its total 115,931,880 shares.