WiseTech Global (ASX: WTC) shares have nosedived following revelations that federal police and corporate regulators raided the company’s Sydney headquarters on Monday, investigating potential breaches of share trading rules by founder Richard White.
The logistics software giant disclosed the raid in a market announcement on Tuesday morning, sending its share price tumbling as much as 17% to A$70.60, the lowest level in more than six months.
ASIC and AFP Execute Search Warrants
Officers from the Australian Securities and Investments Commission (ASIC) and the Australian Federal Police (AFP) executed search warrants at WiseTech’s South Sydney office on 27 October 2025.
The warrants relate to alleged trading in WiseTech shares by Richard White and three company employees during late 2024 and early 2025. The identities of the three employees have not been disclosed.
WiseTech stated in its ASX announcement:
“So far as WiseTech is aware, no charges have been laid against any person and there are no allegations against the company itself. WiseTech intends to fully cooperate with any investigation.”
WiseTech Global Announcement
The WiseTech Global Share Trading Allegation Details
Central to the investigation is the alleged sale of approximately A$200 million worth of WiseTech shares during a blackout period, when senior executives are prohibited from trading.
Between 31 December 2024 and 14 February 2025, White reportedly sold between 23,500 and 125,000 shares daily, almost every day, at prices mostly above A$120.
Key timeline of events:
- 2 October to 20 December 2024: White sold 3.56 million shares at prices ranging from A$117.79 to A$134.88, reducing his stake from 37.7% to 36.3%
- Late December 2024 to February 2025: Additional trades allegedly occurred during blackout period
- February 2025: ASIC initiated preliminary inquiries following a mass exodus of executives
- 27 October 2025: AFP and ASIC raid WiseTech offices
Turbulent Year for WiseTech Founder
White stepped down as CEO in October 2024 following media reports about his personal life, including allegations of payments to a past sexual partner.
He returned as executive chairman in late February 2025, just days before the company’s financial results were due. Four directors, including the chair, resigned around this time.
The share price has fallen 40% this year despite the company’s strong operational performance.
Market Impact and Investor Concerns
The WiseTech Global share trading allegation has sent shockwaves through the market. Market strategist Jessica Amir from moomoo noted it was “very disappointing for long-term shareholders” who are questioning how much further the stock could fall.
Current trading metrics show:
- Share price: A$70.60 (down 17% on the day)
- 52-week range: A$67.80 to A$141.61
- Year-to-date decline: 40%
- Market capitalisation: Approximately A$26 billion
In March 2025, Australian Super sold off a A$580 million stake after nine years of ownership, citing governance concerns.
WiseTech Global Share Price
Strong Business Fundamentals Amid Governance Questions
Despite the controversy, WiseTech’s core business remains strong. The company serves more than 17,000 logistics customers across 193 countries, including 47 of the top 50 global logistics providers.
In FY25, WiseTech delivered 14% revenue growth to A$778.7 million, with EBITDA growing 17% to A$381.6 million and underlying net profit increasing 30% to A$241.8 million.
For FY26, the company expects revenue growth of 79% to 85%, reaching A$1.39 billion to A$1.44 billion.
Also Read: Qualcomm Stock Rockets Over 20% as Chipmaker Drops Bombshell AI Data Center Entry
What Happens Next
ASIC confirmed it executed search warrants as part of an ongoing investigation but declined to provide further comment. The AFP has not yet commented publicly on the probe.
The investigation comes at a sensitive time for a company trading at nearly 50 times EBITDA, a premium justified by its strong growth and dominant position in global logistics software.
No timeline has been provided for when the investigation might conclude or whether charges will be laid.
