BlackRock’s Significant Share Dealings in ENN Energy Holdings Amid Privatisation Plans

Key Points from the Public Disclosure Form

• Date of Disclosure: 24 February 2026, relating to dealings on 23 February 2026.
• Nature of Transaction: The report is filed under the context of a privatisation by way of scheme of arrangement for ENN Energy Holdings Ltd.
• Party Involved: BlackRock, Inc., a major global asset manager, and a Class (6) associate of ENN Energy Holdings Ltd due to its substantial shareholdings.
• Transaction Details:
  • Multiple share purchases and a sale executed for discretionary investment clients.
  • Largest single purchase: 66,000 shares at HK\$69.00 per share.
  • Total shares purchased (excluding sale transactions): 141,100 shares on 23 February 2026.
  • Single sale: 5,200 shares at HK\$69.00 per share.
  • Resultant holding after these transactions: 62,949,419 shares, representing 5.5617% of ENN Energy’s issued share capital.
  • Transaction prices ranged from HK\$68.95 to HK\$69.05 per share, indicating active trading around the privatisation event.

Implications for Shareholders

• Privatisation Context: The disclosed dealings occur during ENN Energy Holdings Ltd’s privatisation process, which may signal heightened activity and potential volatility in the company’s shares.
• BlackRock’s Position: BlackRock’s increased shareholding to over 5.56% is notable. Their active participation and incremental purchases suggest confidence in ENN Energy’s valuation and/or the privatisation terms.
• Price Sensitivity: The transaction prices (HK\$68.95–HK\$69.05) provide a reference for investors regarding current trading levels, which could act as a floor or ceiling for future trading, especially amid the privatisation scheme.
• Potential Share Price Impact: Large institutional investors accumulating shares during a privatisation event may influence market perception and share price movement. The report signals that BlackRock is positioning itself, possibly expecting value from the scheme of arrangement.
• Dealings for Discretionary Clients: All trades were for the account of discretionary investment clients, implying that BlackRock’s actions reflect broader institutional demand rather than proprietary trading.

Investor Takeaways

Shareholders should note BlackRock’s active trading and increasing stake in ENN Energy Holdings, especially as the company undergoes a privatisation scheme. The concentration of trades at prices close to HK\$69.00 per share could be indicative of the anticipated valuation in the privatisation process. As one of the world’s largest asset managers, BlackRock’s confidence may influence other investors and potentially move the share price.

The privatisation scheme itself is a material event, and the increased activity from institutional investors is a price-sensitive development that warrants close monitoring by both existing and potential shareholders.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult professional advisors before making any investment decisions. The information presented is based on public disclosures and may not reflect the entirety of the privatisation process or other material developments affecting ENN Energy Holdings Ltd.

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