BlackRock Discloses Share Dealings in ENN Energy Holdings Amidst Privatisation Scheme

Key Highlights from the Public Disclosure Form

• Date of Disclosure: 5 March 2026
• Subject: Privatisation by way of scheme of arrangement for ENN ENERGY HOLDINGS LTD
• Disclosing Party: BlackRock, Inc., a Class (6) associate of ENN Energy Holdings Ltd.
• Regulatory Reference: Rule 22 of the Hong Kong Code on Takeovers and Mergers

Detailed Breakdown of Share Dealings

The Executive has received a disclosure from BlackRock, Inc. regarding its recent dealings in the shares of ENN ENERGY HOLDINGS LTD, as part of the ongoing privatisation process. The transactions, executed on 4 March 2026, include both purchases and sales for the accounts of discretionary investment clients. Below is a detailed summary:

Implications for Shareholders and Potential Price Sensitivity

• Active Trading by a Major Shareholder: BlackRock, Inc., a significant institutional investor and Class (6) associate, has been actively trading ENN Energy shares. The transactions, although moderate in volume relative to the total share capital, suggest possible portfolio rebalancing ahead of the privatisation.
• Price Levels: Trades were executed at prices ranging from HK\$69.7262 to HK\$71.8500, which may indicate a perceived fair value range by one of the world’s largest asset managers. These price points could serve as important reference levels for other investors.
• Resultant Holdings: After these transactions, BlackRock’s holding stands at 67,059,871 shares, representing approximately 5.92% of ENN Energy’s shares. This level of ownership gives BlackRock significant influence, especially in the context of a privatisation scheme where every percentage point could impact the outcome.
• Privatisation Context: The disclosure comes as ENN Energy is undergoing a privatisation process by way of scheme of arrangement. Shareholder votes and acceptances are likely to be sensitive to the activities of major institutional holders such as BlackRock.
• Dealings for Discretionary Clients: The trades were conducted for discretionary investment clients, which may not directly reflect BlackRock’s proprietary view, but do show significant client activity in the stock.

What Investors Should Watch

• Further Moves by BlackRock: As a major associate and active trader, any further disclosures or significant changes in BlackRock’s position could be market-moving.
• Privatisation Timeline and Terms: Investors should closely monitor announcements related to the privatisation scheme, as major shareholders’ actions may influence the scheme’s success and the final offer price.
• Share Price Reaction: The disclosed trading range provides a market reference. Any notable deviations in share price from this range could indicate changing sentiment around the privatisation process or news related to large shareholders.

Conclusion

The disclosure of active trading by BlackRock, Inc. in ENN Energy Holdings comes at a pivotal time as the company moves towards privatisation. The trading prices and resultant holdings offer valuable insights for investors, especially as the privatisation scheme progresses. Market participants should remain vigilant for further disclosures and official statements that could impact the share price.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a professional adviser before making investment decisions.

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