Feb. 21, 2007 (China Knowledge) – Police have begun investigating alleged incidents of investors subscribing to H-share sales of mainland companies in the second half of last year using multiple identities, reported The Standard.

The incidents were noticed during the huge initial public offerings of Industrial and Commercial Bank of China <1398>, the world's biggest IPO, and Bank of China <3988> on the Hong Kong stock exchange.

It is believed that speculators like housewives and the elderly used the illegal practice to raise their odds of share allotments amid massive oversubscriptions for the popular mainland financial plays.

Sing Tao Daily reported that subscriptions for this month's IPO of juicemaker China Huiyuan Juice <1886> are being tracked due to concerns raised by the Securities and Futures Commission.