Key Points from the Report
- Date of Disclosure: 23 February 2026
- Context: The disclosure is made under Rule 22 of the Hong Kong Code on Takeovers and Mergers, relating to the privatisation of ENN Energy Holdings Limited via a scheme of arrangement.
- Party Involved: UBS AG, an exempt principal trader connected with ENN Energy Holdings Limited (the Offeree company).
- Dealings Date: 20 February 2026
- Nature of Dealings: Hedging of Delta 1 products resulting from wholly unsolicited client-driven orders.
Detailed Disclosure of Securities Dealings
| Description of Relevant Securities |
Nature of Dealings |
Purchase/Sale |
Total Number of Shares Involved |
Total Amount Paid/Received |
Highest Price Paid/Received |
Lowest Price Paid/Received |
| Ordinary shares |
Hedging of Delta 1 products (unsolicited client-driven orders) |
Purchase |
48,700 |
\$3,355,039.9988 |
\$69.2000 |
\$68.8914 |
| Ordinary shares |
Hedging of Delta 1 products (unsolicited client-driven orders) |
Sale |
300 |
\$20,730.0000 |
\$69.1000 |
\$69.1000 |
Important Information for Shareholders
-
Privatisation Process: The disclosure takes place amid a proposed privatisation of ENN Energy Holdings Limited via a scheme of arrangement. Such corporate actions can significantly affect share prices due to shifts in control, changes in future prospects, and possible premium offers to minority shareholders.
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Active Trading by UBS AG: UBS AG, owned by UBS Group AG, engaged in both buying and selling ENN Energy ordinary shares on 20 February 2026. The purchases and sales were related to hedging activities for Delta 1 products, which are generally synthetic equity exposures created for clients. These activities were driven by wholly unsolicited client orders, meaning UBS AG was not acting on its own strategic view but facilitating client demand.
-
Transaction Details:
- 48,700 shares were purchased at prices ranging from \$68.8914 to \$69.2000 per share, totaling over \$3.35 million.
- 300 shares were sold at \$69.1000 per share, totaling \$20,730.
-
Potential Price Sensitivity: While these transactions were for hedging purposes and not proprietary trading, they represent significant trading volume in ENN Energy shares during a sensitive period. Investors should note that such disclosures can signal increased trading and liquidity in the shares, which may affect short-term price movements, especially in the context of a potential privatisation.
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UBS AG’s Status: As an exempt principal trader connected with the Offeree company, all dealings were made for its own account but in response to client-driven orders. This distinction is important for investors assessing possible conflicts of interest or insider trading risks.
Investor Takeaway
The disclosure by UBS AG provides transparency into significant share dealings in ENN Energy Holdings Limited at a time when the company is undergoing a potential privatisation. The scale and price range of these trades, as well as the context of unsolicited client-driven hedging, are relevant for shareholders and market participants. Such activity could be price-sensitive, especially given the strategic developments surrounding the company.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors are encouraged to conduct their own due diligence and consult with professional advisors before making investment decisions. The information is based on disclosures made under the Hong Kong Code on Takeovers and Mergers and may be subject to change as new data emerges.
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