The Pinduoduo logo is seen in this illustration photo taken July 17, 2018. REUTERS/Thomas White/Illustration
BEIJING: Chinese regulators are investigating Pinduoduo Inc after media reports of third-party vendors selling counterfeit goods on its group-discounting marketplace, a move analysts said is likely to further batter the firm's newly listed shares.
The probe comes just days after the Shanghai-based startup raised US$1.63bil (RM6.59bil) in the year's second-biggest US listing by a Chinese firm, which valued Pinduoduo at US$23.8bil (RM96.26bil).
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