Morgan Stanley sells ENN Natural Gas shares amid privatization effort

The Securities and Futures Commission announced dealings in shares of ENN Natural Gas Co., Ltd. related to its privatization by way of scheme of arrangement, as per Rule 22 of the Hong Kong Code on Takeovers and Mergers. On December 10, 2025, Morgan Stanley Bank, N.A., identified as a Class (5) associate connected with the Offeror, disclosed its dealings.

Morgan Stanley Bank, N.A. sold 539,860 ordinary shares for its own account, ultimately owned by Morgan Stanley. The total amount received for these shares was $11.0000. The highest price paid per share was $21.8400, and the lowest price paid per share was $21.3700.

The disclosed dealings were in A shares of ENN Natural Gas Co. Ltd., with all transactions conducted in RMB. The shares were sold as part of hedging activities for Delta 1 products, arising from unsolicited client-driven orders.