Hong Kong Court Sentenced ex-Computershare Vice President Choi Chun Wai to 2-Month Jail Term and Pay $52,600 in FIne & Investigation Cost to Hong Kong SFC for Insider Dealing & Avoiding Losses of $37,000 (HKD 289,500) by Using Privatisation Voting Information of Hong Kong-Listed Company ENM Holdings
19th December | Hong Kong
A Hong Kong court has sentenced ex-Computershare Vice President Choi Chun Wai to 2-month jail term and pay $52,600 in fine & investigation cost to Hong Kong SFC for insider dealing & resulting in avoiding losses of $37,000 (HKD 289,500) by using privatisation voting information of Hong Kong-listed company ENM Holdings. Hong Kong SFC (18/12/25): “The Eastern Magistrates’ Courts today sentenced Mr Choi Chun Wai, a former Vice President of Computershare Hong Kong Investor Services Limited (Computershare) to two months of imprisonment after he was convicted of insider dealing in the shares of ENM Holdings Limited (ENM) (Notes 1 to 3). Choi was ordered to pay a fine of $289,500, which is equivalent to the losses he had avoided when dealing in the ENM shares. The Court also ordered him to pay the Securities and Futures Commission (SFC) investigation costs of $120,407. The Court heard that whilst employed as a vice president of Corporate Services at Computershare, Choi received inside information about ENM’s privatisation and sold all his 1,500,000 ENM shares on 25 September 2023 ahead of ENM’s announcement of the lapse of the privatisation. Consequently, Choi was able to avoid a loss of around $289,500. In sentencing Choi, the Court noted that although he showed remorse for his misconduct, insider dealing is a serious offence, and immediate custodial sentence is appropriate in this case.” In 2025 December, a Hong Kong court convicted ex-Computershare Vice President Choi Chun Wai guilty of insider dealing & resulting in avoiding losses of $37,000 (HKD 289,500) by using privatisation voting information of Hong Kong-listed company ENM Holdings. Hong Kong SFC (4/12/25): “The Eastern Magistrates’ Courts today convicted Mr Choi Chun Wai, former Vice President of Computershare Hong Kong Investor Services Limited (Computershare) (Note 1), of insider dealing in the shares of ENM Holdings Limited (ENM) following a criminal prosecution by the Securities and Futures Commission (SFC) (Note 2). Choi pleaded guilty to the offence of insider dealing. The Court remanded him in custody and adjourned the case to 18 December 2025 for sentencing. On 2 June 2023, ENM and the Offeror jointly announced a proposed privatisation (Privatisation) of ENM subject to the approval of not less than 75% of the voting rights of disinterested shareholders at a court meeting (Note 3). Computershare was engaged by ENM to despatch and collect proxy forms, and to act as the scrutineer for the voting process at the court meeting scheduled for 26 September 2023. The Court heard that Choi, a vice president of Corporate Services of Computershare at the material time, was involved in coordinating and monitoring the voting process. In the evening on 22 September 2023, Choi learned from the proxy forms that the required voting threshold for the Privatisation could not be met. Although Choi knew that the information concerned was inside information, he sold all his 1,500,000 ENM shares on 25 September 2023 ahead of ENM’s announcement of the lapse of the Privatisation. ENM’s share price fell 10.26% to close at $0.35 on 27 September 2023 after the announcement was made. Consequently, Choi was able to avoid a loss of around $289,500.”
“ Hong Kong Court Sentenced ex-Computershare Vice President Choi Chun Wai to 2-Month Jail Term and Pay $52,600 in FIne & Investigation Cost to Hong Kong SFC for Insider Dealing & Avoiding Losses of $37,000 (HKD 289,500) by Using Privatisation Voting Information of Hong Kong-Listed Company ENM Holdings “
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The SFC’s Executive Director of Enforcement, Mr Michael Duignan: “The conviction underscores the SFC’s commitment to tackle insider dealing and enhance the integrity of Hong Kong’s financial markets. The immediate jail sentence by the Court serves as a strong deterrent. The misuse of non-public information for personal gain, particularly market professionals in a position of trust, is unacceptable and will have serious consequences. The SFC will continue to take robust enforcement action to protect investors and uphold a level playing field for all market participants.”
Notes:
- Computershare is a global provider of share registration and investor services.
- ENM (stock code: 00128) was listed on the Main Board of the Stock Exchange of Hong Kong Limited in 1972.
- Please see the SFC’s press release dated 4 December 2025 for further details.
Hong Kong Court Convicts ex-Computershare Vice President Choi Chun Wai Guilty of Insider Dealing & Avoiding Losses of $37,000 (HKD 289,500) by Using Privatisation Voting Information of Hong Kong-Listed Company ENM Holdings
5th December – A Hong Kong court has convicted ex-Computershare Vice President Choi Chun Wai guilty of insider dealing & resulting in avoiding losses of $37,000 (HKD 289,500) by using privatisation voting information of Hong Kong-listed company ENM Holdings. Hong Kong SFC (4/12/25): “The Eastern Magistrates’ Courts today convicted Mr Choi Chun Wai, former Vice President of Computershare Hong Kong Investor Services Limited (Computershare) (Note 1), of insider dealing in the shares of ENM Holdings Limited (ENM) following a criminal prosecution by the Securities and Futures Commission (SFC) (Note 2). Choi pleaded guilty to the offence of insider dealing. The Court remanded him in custody and adjourned the case to 18 December 2025 for sentencing. On 2 June 2023, ENM and the Offeror jointly announced a proposed privatisation (Privatisation) of ENM subject to the approval of not less than 75% of the voting rights of disinterested shareholders at a court meeting (Note 3). Computershare was engaged by ENM to despatch and collect proxy forms, and to act as the scrutineer for the voting process at the court meeting scheduled for 26 September 2023. The Court heard that Choi, a vice president of Corporate Services of Computershare at the material time, was involved in coordinating and monitoring the voting process. In the evening on 22 September 2023, Choi learned from the proxy forms that the required voting threshold for the Privatisation could not be met. Although Choi knew that the information concerned was inside information, he sold all his 1,500,000 ENM shares on 25 September 2023 ahead of ENM’s announcement of the lapse of the Privatisation. ENM’s share price fell 10.26% to close at $0.35 on 27 September 2023 after the announcement was made. Consequently, Choi was able to avoid a loss of around $289,500.”
Notes:
- Computershare is a global provider of share registration and investor services.
- ENM (stock code: 00128) was listed on the Main Board of the Stock Exchange of Hong Kong Limited in 1972.
- ENM and Solution Bridge Limited (Offeror) published a joint announcement of a proposed privatisation of ENM by way of a scheme of arrangement under section 673 of the Companies Ordinance, that in effect would cancel approximately 55.72% of ENM’s issued share capital at a cancellation price of $0.58 per share.
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