Morgan Stanley discloses ENN Natural Gas dealings amid privatization

On October 31, 2025, Morgan Stanley & Co., International plc, an associate connected with the offeror, disclosed multiple dealings in A shares of ENN Natural Gas Co. Ltd. These transactions, made for its own account and denominated in yuan, are related to the company's privatization by way of a scheme of arrangement. The dealings consisted of both sales and purchases of "other types of products" classified as derivatives through unsolicited client facilitation.

The disclosed transactions reveal a mix of sales and purchases across various maturity dates. On October 30, 2025, Morgan Stanley facilitated several sales, including 200 units at yuan 18.9351 for a total of yuan 3,787.0178 and 600 units at yuan 18.9351 totaling yuan 11,361.0534, both maturing on August 31, 2027. Another significant sale involved 5,900 units at yuan 18.9658, amounting to yuan 111,898.2908, also maturing on August 31, 2027.

The disclosure also detailed a substantial purchase of 268,600 units at yuan 18.9363, totaling yuan 5,086,296.0892, with a maturity date of August 29, 2026. An equivalent sale of 268,600 units at yuan 18.9363, also totaling yuan 5,086,296.0892 and maturing on August 29, 2026, was reported, indicating balanced large-scale client facilitation activities. All reported dealings show a resultant balance of 0, indicating these were closed positions.