On 24 February 2026, a public disclosure form regarding the potential privatisation of ENN Energy Holdings Limited was released. According to Rule 22 of the Hong Kong Code on Takeovers and Mergers, Morgan Stanley & Co., International plc reported multiple derivatives transactions in ENN Energy Holdings Limited on 23 February 2026.

Morgan Stanley & Co., International plc, ultimately owned by Morgan Stanley, carried out one purchase of 800 reference securities for US$55,780.00 (approximately 0.06 million) and several sales transactions. The largest single sale involved 368,300 reference securities at US$68.9930 per share for a total of US$25.41 million. Other sales ranged from 100 to 10,428 reference securities, with amounts totaling between US$6,900.00 (0.01 million) and US$719,279.20 (0.72 million). Each transaction involved derivatives classified under “Other types of products,” with varying maturity dates.

Morgan Stanley & Co., International plc is identified as a Class (5) associate connected with the offeror. The dealings, made for its own account, were disclosed under the public filing and follow regulatory requirements for transparency in the proposed scheme of arrangement.