Significant Securities Dealings in ENN Energy Holdings Limited by Morgan Stanley Capital Services LLC

Key Highlights for Investors

• Privatisation Scheme in Progress: ENN Energy Holdings Limited is currently undergoing a privatisation process via a scheme of arrangement.
• Major Derivatives Dealings Disclosed: Morgan Stanley Capital Services LLC, a Class (5) associate connected with the Offeror, reported substantial dealings in derivatives referencing ENN Energy shares, both purchases and sales, on 3 March 2026.
• Dealings May Impact Share Value: The scale and nature of these transactions, conducted for Morgan Stanley Capital Services LLC’s own account, could be price sensitive for ENN Energy shareholders.

Detailed Transaction Summary

On 4 March 2026, a public disclosure was filed concerning a series of unsolicited client facilitation transactions in derivatives related to ENN Energy Holdings Limited. These transactions were executed by Morgan Stanley Capital Services LLC, acting on its own behalf, and are associated with the ongoing privatisation bid.

Purchases

• 200 derivatives referencing ENN shares, maturing 30 October 2026, bought at \$71.35 each (total value: \$14,270)
• 200 derivatives, maturing 30 October 2026, bought at \$71.125 each (total value: \$14,225)
• 200 derivatives, maturing 13 November 2026, bought at \$69.875 each (total value: \$13,975)
• 900 derivatives, maturing 29 November 2027, bought at \$71.85 each (total value: \$64,665)
• 2,400 derivatives, maturing 29 October 2027, bought at \$70.5675 each (total value: \$169,362.07)
• 2,800 derivatives, maturing 2 September 2027, bought at \$70.2321 each (total value: \$196,649.88)
• 14,000 derivatives, maturing 30 September 2026, bought at \$70.5675 each (total value: \$987,945.41)

Sales

• 200 derivatives referencing ENN shares, maturing 30 October 2026, sold at \$71.35 each (total value: \$14,270)
• 200 derivatives, maturing 30 October 2026, sold at \$71.125 each (total value: \$14,225)
• 200 derivatives, maturing 13 November 2026, sold at \$69.875 each (total value: \$13,975)
• 900 derivatives, maturing 29 November 2027, sold at \$71.85 each (total value: \$64,665)
• 2,400 derivatives, maturing 29 October 2027, sold at \$70.5675 each (total value: \$169,362.07)
• 2,800 derivatives, maturing 2 September 2027, sold at \$70.2321 each (total value: \$196,649.88)
• 14,000 derivatives, maturing 30 September 2026, sold at \$70.5675 each (total value: \$987,945.41)

All derivative transactions reported above resulted in a net position of zero for Morgan Stanley Capital Services LLC, indicating either immediate offsetting of exposure or client facilitation with no retained risk position.

Potential Implications for Shareholders

• Privatisation-Related Activity: The reported transactions are directly linked to the privatisation scheme and involve an entity connected with the Offeror. Such high volume in both buying and selling of derivatives could signal hedging or arbitrage strategies related to the privatisation process, potentially affecting ENN Energy’s share price in the short term.
• Price Sensitivity: The significant notional amounts and the proximity of the derivative reference prices to the current market price may influence market perception, trading activity, and share value.
• No Net Position Retained: While these trades were substantial, Morgan Stanley Capital Services LLC did not retain a position, possibly indicating that the firm was acting solely as a market facilitator rather than taking a directional bet on ENN Energy’s share price.

Background Information

• Morgan Stanley Capital Services LLC is ultimately owned by Morgan Stanley and is a Class (5) associate of the Offeror in the privatisation of ENN Energy Holdings Limited.
• All dealings were for the firm’s own account and are disclosed under the Hong Kong Code on Takeovers and Mergers requirements.

Conclusion

These disclosures are significant for investors, as they highlight active derivative trading linked to the ongoing privatisation of ENN Energy Holdings Limited. Such activities could have short-term impacts on the stock’s price due to increased trading volumes, potential hedging, and market repositioning by large financial entities.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with professional advisors before making any investment decisions. The information provided is based on public disclosures and may not represent the full scope of market activity or future developments.

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