Key Developments: CITIC Securities’ Dealings in ENN Natural Gas Co., Ltd.

On 25 February 2026, a public disclosure was made regarding securities dealings in the shares of ENN Natural Gas Co., Ltd., in the context of the company’s privatisation by way of scheme of arrangement. The disclosure was filed under Rule 22 of the Hong Kong Code on Takeovers and Mergers.

Details of the Transaction

• Party Involved: CITIC Securities Company Limited
• Date of Dealings: 24 February 2026
• Type of Securities: Ordinary shares (A shares) of ENN Natural Gas Co., Ltd.
• Nature of Dealings: Purchase of shares via pre-existing index-tracking ETFs
• Total Number of Shares Purchased: 300
• Total Amount Paid: RMB 5,806.0000
• Highest Price Paid: RMB 19.3600 per share
• Lowest Price Paid: RMB 19.3500 per share

Important Information for Shareholders

• CITIC Securities Company Limited is classified as a Class (5) associate connected with the Offeror in the privatisation process. This means that CITIC Securities has a relationship with the main party making the offer to privatise ENN Natural Gas Co., Ltd.
• Dealings were made for CITIC Securities’ own account, not on behalf of clients or other parties.
• All transactions involved A shares of ENN Natural Gas Co., Ltd., conducted in RMB.

Potential Implications for Share Price

• The disclosure of share purchases by CITIC Securities, a connected associate, during a privatisation process can be price sensitive. It may signal confidence in the company’s valuation or the likelihood of the privatisation proceeding as planned.
• While the volume of shares purchased (300) is modest, the involvement of a connected associate could influence market sentiment, especially if investors interpret this as an endorsement of the privatisation scheme.
• The transaction prices (RMB 19.3500 to RMB 19.3600 per share) may provide a reference point for investors regarding the current trading range and possible valuation under the scheme.

Investor Takeaways

• Shareholders should closely monitor further disclosures under the Hong Kong Code on Takeovers and Mergers, especially those involving connected parties, as these may impact the progress and pricing of the privatisation scheme.
• The activity by CITIC Securities could be an indicator of internal confidence or strategic positioning related to the outcome of the privatisation.
• Investors should also be aware of the relatively small scale of this particular transaction, which may limit its direct impact on the share price but could have broader implications as part of a pattern or in the context of the privatisation process.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult with professional advisors before making any investment decisions. The information is based on public disclosures and may be subject to change or interpretation.

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