On 13 November 2025, a public disclosure form announced details of recent dealings in the A shares of ENN Natural Gas Co. Ltd. The disclosure was made pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers during the privatisation process by way of a scheme of arrangement.

UBS AG, acting as an exempt principal trader connected with the offeree company, reported multiple purchase and sale transactions conducted on 12 November 2025. These dealt with shares that were hedged as Delta 1 products created from unsolicited client-driven orders, as well as transactions referencing a derivative basket where ENN Natural Gas Co. Ltd’s securities formed a small percentage of the overall index. Altogether, UBS AG purchased shares exceeding 2 million in volume, while also selling a portion of shares on the same date, with deal values reported in renminbi.

According to the announcement, these transactions were executed for UBS AG’s own account and reflect hedging activities rather than discretionary moves on the underlying shares. All trades were executed at prices mostly ranging between approximately RMB20.33 and RMB20.66. UBS AG is ultimately owned by UBS Group AG.