On 13 November 2025, a public disclosure was made in relation to the proposed privatisation of ENN Natural Gas Co., Ltd. by way of scheme of arrangement. The document, issued pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers, detailed several derivative transactions in the A shares of ENN Natural Gas Co., Ltd. conducted by Morgan Stanley & Co., International plc on 12 November 2025.
Morgan Stanley & Co., International plc reported sales in other derivative products described as unsolicited client facilitation, involving a total of 200, 49,200, 73,800, 155,200, and 199,400 reference securities. These transactions were conducted at respective reference prices ranging from RMB 20.4300 to RMB 20.5819, with total amounts paid or received specified in the disclosure. All dealings were executed for Morgan Stanley & Co., International plc’s own account and settled in RMB.
According to the announcement, Morgan Stanley & Co., International plc is a Class (5) associate connected with the Offeror and is ultimately owned by Morgan Stanley.