Morgan Stanley Securities Dealings in ENN Natural Gas Co., Ltd. – Detailed Report for Investors

Key Highlights

• Date of Disclosure: 2 March 2026
• Transaction Party: Morgan Stanley & Co., International plc
• Relevant Security: Ordinary shares of ENN Natural Gas Co., Ltd. (A shares, traded in RMB)
• Transaction Date: 27 February 2026
• Transaction Type: Purchase (Hedging of Delta 1 products created from wholly unsolicited client-driven orders)
• Number of Shares Involved: 18,000
• Total Amount Paid: \$365,659.00
• Highest Price Paid: \$20.44 per share
• Lowest Price Paid: \$20.09 per share

Important Details for Shareholders

• Nature of Dealings: The purchase was associated with hedging activities connected to Delta 1 products, which are typically linked to derivatives and structured products. These transactions were the result of wholly unsolicited client-driven orders, meaning they were not initiated by Morgan Stanley but by its clients.
• Associated Party Status: Morgan Stanley & Co., International plc is a Class (5) associate connected with the Offeror in the ongoing privatisation process by way of a scheme of arrangement. This status may be significant for investors tracking related party transactions.
• Dealings for Own Account: The transactions were made for Morgan Stanley’s own account, not on behalf of clients, which suggests the firm’s direct exposure and interest in ENN Natural Gas Co., Ltd.
• Ownership Structure: Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley, a global financial institution.
• Potential Impact: The disclosure is made under Rule 22 of the Hong Kong Code on Takeovers and Mergers, indicating its relevance to the ongoing privatisation and potential market sensitivity.
• Price Sensitivity: The volume (18,000 shares) and price range (\$20.09 – \$20.44) are noteworthy, especially considering that these dealings are related to hedging strategies. Investors should monitor for further disclosures, as significant hedging or accumulation by a related party during a privatisation process may impact share price movements.

Investor Guidance

Shareholders should pay close attention to further disclosures and developments regarding the privatisation of ENN Natural Gas Co., Ltd. Related party transactions, especially during a scheme of arrangement, can be significant for future share value, as they may signal institutional confidence or strategic positioning ahead of corporate actions.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors are urged to conduct their own due diligence and consult with professional advisers before making any investment decisions. The information provided is based on public disclosures and may be subject to change.

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