On 13 November 2025, a disclosure concerning the proposed privatisation by way of a scheme of arrangement for ENN Natural Gas Co., Ltd. was published. Details showed that Morgan Stanley Bank, N.A. reported dealings in the company’s A shares on 12 November 2025.
Morgan Stanley Bank, N.A. purchased a total of 80,000 ordinary shares, stemming from hedging of Delta 1 products created by wholly unsolicited client-driven orders. The total amount paid was RMB 1,640,578, with the highest price at RMB 20.66 and the lowest at RMB 20.32.
According to the disclosure, Morgan Stanley Bank, N.A. is a Class (5) associate connected with the offeror and is ultimately owned by Morgan Stanley. All transactions were conducted for its own account and took place in A shares of ENN Natural Gas Co., Ltd.