The Hong Kong Securities and Futures Commission has commenced criminal proceedings in the Eastern Magistrates’ Court against businessman Wong Pak Ming for suspected insider dealing involving the shares of Transmit Entertainment Limited, formerly known as Pegasus Entertainment Holdings Limited. The SFC alleges that Wong counselled or procured another person to deal in Pegasus shares between around 25 August 2017 and 17 October 2017 while he was the company’s chairman and controlling shareholder and in possession of information he knew to be inside information relating to Pegasus. The SFC noted that insider dealing is an offence under section 291 of the Securities and Futures Ordinance. No plea was taken and the case was adjourned to 27 March 2025. Wong was granted bail of HKD 200,000, with conditions including residence at a notified address, prior notification to the Police of any change of residence, and notifying the SFC 24 hours before leaving Hong Kong.
Hong Kong Securities & Futures Commission 2025-02-27
Hong Kong Securities and Futures Commission commences insider dealing prosecution against Wong Pak Ming linked to Transmit Entertainment shares
The Hong Kong Securities and Futures Commission has initiated criminal proceedings against businessman Wong Pak Ming for alleged insider dealing in Transmit Entertainment Limited shares. Wong, the former chairman and controlling shareholder, is accused of advising or procuring another to trade shares while possessing inside information. The case is adjourned to 27 March 2025, with Wong granted bail of HKD 200,000 under specific conditions.