ENN Natural Gas: Morgan Stanley Discloses Zero-Balance Derivative Trades Amid Privatisation Process

Bulletin Express
Jun 09

Hong Kong, 9 June 2026 — Under Rule 22 of the Hong Kong Code on Takeovers and Mergers, the Executive has received a disclosure relating to the proposed privatisation of ENN Natural Gas Co., Ltd. by way of scheme of arrangement.

On 8 June 2026, Morgan Stanley & Co. International plc – classified as a Class (5) associate of the offeror – executed four unsolicited client-facilitation transactions in derivatives linked to A shares of ENN Natural Gas:

• Purchases: 30 and 54 reference securities with a maturity date of 9 March 2028, executed at reference prices of $19.21 and $18.90, for total considerations of $0.58 million and $1.02 million respectively, amounting to $1.60 million in aggregate.

• Sales: Mirror transactions for the same quantities, prices and maturities, generating identical proceeds of $0.58 million and $1.02 million.

Because the purchase and sale volumes were equivalent, Morgan Stanley’s resultant holding in ENN Natural Gas derivatives remains at zero. All trades were carried out for the firm’s own account and were settled in renminbi.

Morgan Stanley & Co. International plc is ultimately owned by Morgan Stanley. The disclosure forms part of the ongoing monitoring process as ENN Natural Gas advances its privatisation plan through a court-sanctioned scheme of arrangement.

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