Significant Share Dealings in ENN Natural Gas Co., Ltd. Disclosed by Morgan Stanley Bank, N.A.

Date: 27 February 2026

Key Points from the Public Disclosure

• Privatisation Activity: The disclosure is made in connection with the privatisation of ENN Natural Gas Co., Ltd. by way of a scheme of arrangement.
• Disclosure of Share Dealings: The Executive received a notification of securities dealings pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers.
• Involved Party: Morgan Stanley Bank, N.A., identified as a Class (5) associate connected with the Offeror in the privatisation process.
• Date of Transaction: 26 February 2026.
• Nature of Dealings: The transaction involved the hedging of Delta 1 products, which were created as a result of wholly unsolicited, client-driven orders.
• Transaction Details:
  • Type of Security: Ordinary shares (A shares) of ENN Natural Gas Co., Ltd.
  • Action: Purchase
  • Total Number of Shares Purchased: 2,021
  • Total Amount Paid: 39,913.4309 RMB
  • Highest Price Paid: 19.83 RMB per share
  • Lowest Price Paid: 19.69 RMB per share
• Ownership: Morgan Stanley Bank, N.A. is ultimately owned by Morgan Stanley and conducted these transactions for its own account.

Important Information for Shareholders

• Privatisation Progress: The disclosure of these dealings is directly linked to the ongoing privatisation process of ENN Natural Gas Co., Ltd. via a scheme of arrangement. Shareholders should be aware that such activities often precede significant corporate actions, which may result in changes to shareholder value or structure.
• Institutional Activity: The involvement of a major international financial institution such as Morgan Stanley, through its banking arm, and the specific purchase of ENN shares, could be interpreted as a sign of institutional confidence or strategic positioning ahead of further developments in the privatisation.
• Price Sensitivity: The transaction prices (between 19.69 and 19.83 RMB per share) and the total value (approximately 39,913 RMB) provide a reference point for current market valuations and could serve as an indicator for future share price movements, especially in light of the privatisation.
• Nature of Orders: It is important to note that these trades were hedging activities related to client-driven orders, which are classified as “wholly unsolicited.” While this suggests the trades were not initiated by Morgan Stanley’s proprietary trading desk for speculative purposes, the volume and timing are still notable.

Potential Share Price Impact

The timing and disclosure of these share dealings, especially in the context of a pending privatisation, could be price-sensitive information for investors. Increased institutional activity and transparency around the privatisation process may lead to heightened trading volumes and potential volatility in the share price of ENN Natural Gas Co., Ltd.

Conclusion

Investors in ENN Natural Gas Co., Ltd. should closely monitor further disclosures and corporate announcements regarding the privatisation process and any additional activities by major institutional shareholders, as these could materially impact the company’s valuation and shareholder returns.

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 financial adviser before making investment decisions.

View ENN ENERGY Historical chart here