A security guard stands at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Oct 8 (Reuters) - The Shanghai Stock Exchange said 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. Zhejiang King on Saturday said it will suspend the new share subscription procedure initially scheduled on Monday because of the media reports, without specifying the nature of those reports. Zhejiang King said in its prospectus published last month that assets related to its air conditioner business were indirectly acquired from a different listed air conditioner company via a series of asset restructuring schemes. Zhejiang King said last month it aimed to raise 2.38 billion yuan ($325.98 million) at 68.07 yuan per share.

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Persons: Aly, Zhejiang King, Roxanne Liu, Ryan Woo, Christian Schmollinger Organizations: Shanghai Stock Exchange, REUTERS, Rights, Zhejiang King Co, China Securities Index Co, Thomson Locations: Pudong, Shanghai, China, Rights BEIJING, Zhejiang King, Zhejiang