Key Highlights
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Date of Disclosure: 26 February 2026
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Disclosing Party: China International Capital Corporation Limited (CICC), an exempt principal trader connected with the Offeror.
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Nature of Dealings: Purchases and disposals of ENN Natural Gas Co., Ltd. A shares, executed for CICC’s own account.
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Context: These dealings are part of a privatisation by way of scheme of arrangement, disclosed under Rule 22 of the Hong Kong Code on Takeovers and Mergers.
Detailed Transaction Breakdown
| Date |
Type |
Nature of Dealings |
Buy/Sell |
Shares Involved |
Total Value (RMB) |
Highest Price (RMB) |
Lowest Price (RMB) |
| 25 Feb 2026 |
Ordinary Shares |
Creation of new index-tracking ETFs, where ENN shares represent <1% of class in issue and <20% of the basket/index value
|
Purchase |
3,300 |
65,527.0000 |
19.8700 |
19.8300 |
| 25 Feb 2026 |
Ordinary Shares |
Disposal of underlying shares received from redemption of pre-existing index-tracking ETFs due to unsolicited client requests
|
Sale |
5,500 |
108,638.0000 |
19.8100 |
19.7300 |
Material Information for Shareholders
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Dealings are related to index-tracking ETFs: The purchases relate to the creation of new ETFs, implying possible increased investor interest in ENN shares from passive investment vehicles. However, the exposure (<1% of shares in issue) is limited.
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Disposals driven by client redemptions: CICC sold 5,500 shares as a result of redemption requests from clients, which may indicate some liquidity movement but does not necessarily reflect a directional view on the underlying stock.
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Price Sensitivity: The transaction prices ranged from RMB 19.73 to RMB 19.87 per share, a narrow band that suggests low volatility during these trades. However, any sustained ETF creation/redemption activity could impact liquidity or trading volume in the short term.
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Privatisation context: The disclosure is made in connection with a privatisation process for ENN Natural Gas Co., Ltd. Investors should be attentive to further developments related to the scheme of arrangement, as such events are typically price-sensitive.
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Currency: All transactions were in RMB and involved A shares of ENN Natural Gas Co., Ltd.
Potential Share Price Impact
While the individual transactions disclosed by CICC on 25 February 2026 are relatively small in scale (totaling 8,800 shares traded in aggregate), the context of ongoing index-tracking ETF activity, coupled with the backdrop of a privatisation scheme, could heighten market sensitivity to further disclosures or material changes in shareholding structure. The market may interpret increased ETF creations as a sign of growing institutional/passive interest, while redemptions may signal shifts in client sentiment.
Investors are strongly advised to monitor further disclosures, as activity by parties connected to the Offeror during a privatisation process can precede significant share price movements.
Disclaimer
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult a professional advisor before making investment decisions. The information is based on public filings and may be subject to change.
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