ENN Energy Holdings Limited – Disclosure of Dealings
Key Disclosure: Dealings in ENN Energy Holdings Limited Shares by Morgan Stanley & Co., International plc
Date of Disclosure: 20 February 2026
Subject: Privatisation by way of scheme of arrangement – Disclosure of dealings in the shares of ENN Energy Holdings Limited
Summary of Key Points
- A significant disclosure was made to the Hong Kong Executive under Rule 22 of the Hong Kong Code on Takeovers and Mergers regarding dealings in ENN Energy Holdings Limited shares.
- Morgan Stanley & Co., International plc, acting as a Class (5) associate connected with the Offeror, reported a series of transactions involving derivatives linked to ENN Energy Holdings Limited shares.
- The transactions were carried out for Morgan Stanley’s own account and involved both purchases and sales of derivatives with various maturity and closing out dates extending into 2027.
Detailed Transaction Breakdown
| Date |
Nature of Dealings |
Number of Securities |
Maturity/Closing Date |
Reference Price (USD) |
Total Amount (USD) |
| 16 February 2026 |
Unsolicited client facilitation – Purchase (Derivatives) |
1,600 |
13 November 2026 |
68.7062 |
109,929.92 |
| 16 February 2026 |
Unsolicited client facilitation – Purchase (Derivatives) |
20,500 |
10 February 2027 |
68.7289 |
1,408,942.10 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
100 |
22 November 2027 |
68.8500 |
6,885.00 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
100 |
22 November 2027 |
68.7930 |
6,879.30 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
168 |
14 August 2026 |
69.0897 |
11,607.08 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
632 |
1 June 2027 |
69.0897 |
43,664.72 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
1,000 |
22 November 2027 |
68.8584 |
68,858.40 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
1,700 |
31 December 2027 |
68.7045 |
116,797.60 |
| 16 February 2026 |
Unsolicited client facilitation – Sale (Derivatives) |
5,400 |
10 December 2027 |
68.9574 |
372,369.96 |
Implications for Shareholders
- Active Trading by a Key Associate: Morgan Stanley & Co., International plc, a connected associate of the Offeror, has been actively trading derivatives related to ENN Energy Holdings Limited shares. This activity is notably tied to the privatisation scheme and could reflect expectations or hedging around the offer price or other corporate actions.
- Derivatives Maturity Dates: The derivative trades have maturity and closing dates stretching from August 2026 to December 2027, indicating prolonged exposure and anticipation of future developments in ENN Energy’s corporate structure or share price.
- Potential Price Sensitivity: Such active trading by a key market participant, particularly one connected with the Offeror, may signal insider expectations regarding the privatisation process or future share value. This could be interpreted by the market as a price-sensitive event.
- No Resultant Holdings: All resultant balances after each transaction are reported as zero, suggesting these were client facilitation trades rather than positions held for investment. However, the scale and timing of the activity remain noteworthy.
What Investors Should Watch
- The continued involvement of Morgan Stanley & Co., International plc in significant derivative trades may indicate market expectations for volatility or significant events relating to ENN Energy Holdings Limited.
- Investors should remain alert for further disclosures or announcements regarding the privatisation scheme, which could materially affect the share price.
- These trades, if interpreted as strategic positioning by a party closely connected to the Offeror, may influence market sentiment around the likelihood and terms of the privatisation.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors are encouraged to perform their own due diligence and consult with professional advisors before making investment decisions. The author and publisher bear no responsibility for any actions taken based on the information provided herein.
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