Summary of Disclosure
The Executive has received a public disclosure of securities dealings in the shares of ENN Natural Gas Co., Ltd. as required under Rule 22 of the Hong Kong Code on Takeovers and Mergers. The transactions were conducted by Morgan Stanley & Co., International plc, a Class (5) associate connected with the Offeror, and are part of a wider privatisation by way of a scheme of arrangement.
Transaction Details
- Date of Transactions: 9 March 2026
- Type of Securities: Ordinary A shares of ENN Natural Gas Co., Ltd.
- Nature of Dealings: Hedging of Delta 1 products arising from wholly unsolicited client-driven orders.
- Ownership: Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley. The transactions were executed for its own account.
- Currency: All dealings were carried out in RMB.
Specific Trades Executed
| Type |
Total Shares Involved |
Total Amount Paid/Received (RMB) |
Highest Price (RMB) |
Lowest Price (RMB) |
| Purchase |
300 |
6,537.00 |
21.89 |
21.70 |
| Sale |
2,200 |
48,207.00 |
22.89 |
21.59 |
Key Highlights for Shareholders
- Privatisation in Progress: The disclosure is part of a broader privatisation exercise via a scheme of arrangement, which is a significant corporate event that could have major implications for ENN Natural Gas Co., Ltd. shareholders.
- Class (5) Associate Involvement: The dealings were made by a Class (5) associate connected with the Offeror, indicating that these trades are closely related to the potential offer or restructuring of the company.
- Hedging Activity: The trades represent hedging activities linked to Delta 1 products, arising from client-driven (and not proprietary or speculative) orders. However, the involvement of a major international financial institution in such volumes may reflect heightened market activity and liquidity in ENN Natural Gas shares during this sensitive period.
- Potential Price Sensitivity: The recorded share prices for these transactions ranged between RMB 21.59 and RMB 22.89. This information provides investors with a reference for recent trading levels in the context of the ongoing privatisation process, which could influence market sentiment and future price movements.
What Investors Should Watch
- Continued disclosures of this nature may indicate ongoing or increasing activity related to the privatisation of ENN Natural Gas Co., Ltd., which could be price sensitive.
- Any updates regarding the scheme of arrangement, or further dealings by associates connected with the Offeror, should be closely monitored by shareholders as they may signal developments in the takeover process.
- Market participants should take note of the share price range established by these trades, as it may serve as a reference point for future transactions or offers.
Disclaimer: The above article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult professional advisers before making investment decisions. The author and publisher accept no responsibility for any losses arising from reliance on this information.
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