Detailed Report: Disclosure of Dealings in ENN Natural Gas Co., Ltd. Shares
Key Developments: ENN Natural Gas Co., Ltd. Share Dealings Amid Privatisation Scheme
Summary of Events
On 26 February 2026, a public disclosure was filed regarding dealings in the shares of ENN Natural Gas Co., Ltd. This disclosure is part of the ongoing privatisation process of the company by way of a scheme of arrangement, and was submitted under Rule 22 of the Hong Kong Code on Takeovers and Mergers.
Key Points Investors Should Note
-
Morgan Stanley Capital Services LLC—a Class (5) associate connected with the Offeror and ultimately owned by Morgan Stanley—executed multiple derivative transactions involving A shares of ENN Natural Gas Co., Ltd.
-
All reported dealings were made for Morgan Stanley Capital Services LLC’s own account. The transactions were carried out in RMB.
-
The nature of these dealings was unsolicited client facilitation, comprising both purchases and sales of derivative products linked to ENN Natural Gas shares.
Detailed Transaction Breakdown
| Date |
Type |
Description |
Number of Securities |
Maturity/Closing Date |
Reference Price (RMB) |
Total Amount (RMB) |
| 25 February 2026 |
Purchase |
Unsolicited client facilitation (Derivatives) |
2,500 |
30 November 2027 |
19.7456 |
49,364.00 |
| 25 February 2026 |
Purchase |
Unsolicited client facilitation (Derivatives) |
9,300 |
31 August 2027 |
19.8923 |
184,997.9994 |
| 25 February 2026 |
Sale |
Unsolicited client facilitation (Derivatives) |
2,500 |
30 November 2027 |
19.7456 |
49,364.00 |
| 25 February 2026 |
Sale |
Unsolicited client facilitation (Derivatives) |
9,300 |
31 August 2027 |
19.8923 |
184,997.9994 |
Potential Price Sensitivity and Shareholder Impact
-
The transactions were executed as part of client facilitation and were not proprietary trading by Morgan Stanley for market speculation. The resultant balance post-transactions is zero, indicating these were offsetting trades (buy and sell).
-
Given the context of ongoing privatisation, any significant dealings or changes in ownership structure—even if executed for facilitation purposes—could be interpreted as a signal of activity or sentiment around the company’s shares. However, in this case, the trades appear to be neutral (no net position was established).
-
Shareholders should monitor for further disclosures, especially if larger, directional positions are taken, or if other associates of the Offeror engage in similar activities. This could signal further developments in the privatisation process or potential price movements.
-
The reference prices of the derivatives (approximately RMB 19.75–19.89) could serve as a benchmark for current valuation in the context of the privatisation deal, but no direct offer price is mentioned in this disclosure.
Conclusion
While these transactions are not directly indicative of a directional bet on ENN Natural Gas Co., Ltd.’s share price, they occur in the context of a privatisation scheme and involve a key associate of the Offeror. Investors should remain vigilant for further disclosures or any escalation in activity, as such events may prove price-sensitive in the near term.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult professional advisors before making any investment decisions. The information presented is based on public disclosure and may not reflect subsequent developments or additional information not yet released.
View ENN ENERGY Historical chart here
