Significant Share Dealings in ENN Natural Gas Co Ltd by UBS AG Disclosed

Key Points for Investors

• Substantial Trading Activity: UBS AG, an exempt principal trader connected with ENN Natural Gas Co Ltd (the Offeree company), disclosed several significant transactions in the company’s A shares on 5 March 2026.
• Nature of Dealings: All transactions were executed as part of hedging activities for Delta 1 and equity-related products arising from wholly unsolicited, client-driven orders. These are not proprietary trades for speculative gain but are a result of managing client exposure.
• Transaction Details:
  • Purchases:
    • 11,500 shares bought for RMB 248,001.9970 (Highest price: RMB 21.7080, Lowest price: RMB 21.5508)
    • 1,079,325 shares bought for RMB 23,278,681.0146 (Highest price: RMB 22.0568, Lowest price: RMB 21.3313)
    • 6,100 shares bought (as part of a derivative referenced to a basket or index) for RMB 131,836.0000 (Highest price: RMB 21.6800, Lowest price: RMB 21.5500)
  • Sales:
    • 109,000 shares sold for RMB 2,418,353.0184 (Highest price: RMB 22.2376, Lowest price: RMB 21.5082)
    • 36,400 shares sold for RMB 790,176.0000 (Highest price: RMB 22.6400, Lowest price: RMB 21.3000)
    • 198,500 shares sold for RMB 4,292,060.0026 (Highest price: RMB 22.5452, Lowest price: RMB 21.3930)
• Special Note for Shareholders:
  • These trades were executed in the normal course of hedging and are not considered proprietary speculative trades by UBS AG.
  • Such transactions are typically part of routine market-making and liquidity provision, and were not driven by any inside information or proprietary view on ENN Natural Gas’s value.
  • The magnitude of the trades—especially the large purchase of over 1 million shares—could, however, influence short-term share price movements due to increased trading volumes.
  • UBS AG is ultimately owned by UBS Group AG, and all trades were conducted in RMB.
• Context: The disclosure comes amidst a privatisation proposal by way of a scheme of arrangement, which is a material event for existing shareholders.

Potential Price Sensitivity and Shareholder Considerations

• Price Movements: The large volume of purchases and sales, especially the single transaction involving over 1 million shares, could have a temporary impact on the share price due to increased liquidity and possible shifts in market sentiment.
• Privatisation Context: As the company is undergoing a privatisation process, any significant trading activity by principal traders such as UBS AG may attract heightened scrutiny from investors and regulators.
• Transparency and Market Integrity: The disclosures ensure transparency in the market and help maintain the integrity of the privatisation process, enabling shareholders to make more informed decisions.

Conclusion

The disclosed dealings by UBS AG in the shares of ENN Natural Gas Co Ltd are notable both for their size and timing, taking place during a sensitive period of privatisation. While the trades were primarily for hedging and not proprietary trading, the increased volumes may influence short-term share price movements. Investors should continue to monitor such disclosures, especially in the context of the ongoing scheme of arrangement.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisors before making any investment decisions. The information provided is based on a public disclosure and should be considered in the context of broader market developments.

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