Hui, Ronnie Ka Wah 許家驊

This relates to our famous Enigma Network and a 2016 transaction we flagged in which SoftMedx bought a 9.9% stake in New Ray Medicine (6108) for a 265% premium to market, from a BVI company, the name and owner of which weren't disclosed, but we identified as Town Health (3886). In our view, this case is too little, too late. It does not involve any criminal charges.

With the exchange shut for 2014, we take a close look at two bubbles and the other listed companies surrounding them.