Shanghai exchange probes Zhejiang King

FILE PHOTO: A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File Photo

BEIJING: The Shanghai Stock Exchange says it will probe Zhejiang King Co Ltd after the Chinese maker of air conditioners halted its initial public offering (IPO) amid media reports about alleged issues such as the overpricing of shares.

The probe comes as China’s securities regulators have tightened their scrutiny of IPOs and slowed the pace of share sales as part of efforts to revitalise a flagging stock market.