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TOKYO (Reuters) – The Tokyo Stock Exchange (TSE.UL) said on Friday it is looking into a spate of complaints about recent trades involving heavy short-selling ahead of new share issues.

A growing number of investors at home and overseas are asking it to take action on what they believe to be insider trading, said Kazuhiko Yoshimatsu, a spokesman for the bourse.

The bourse declined to say if it had opened a formal investigation or comment on which new share issues were the subject of the complaints.

He added that investors were concerned that information may have been leaked when brokerages, on behalf of issuers, sound out institutional investors to gauge demand for new shares.

The Financial Times reported that the Securities and Exchange Surveillance Commission was also examining the issue.

"It is something we cannot allow to continue. We have no intention of leaving the problem unaddressed," Atsushi Saito, TSE chief executive, was quoted by the FT as saying.

SESC officials are not immediately available for comment.

(Reporting by Tim Kelly and Taiga Uranaka; Editing by Edwina Gibbs)

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