On 20 October 2025, ENN Energy (2688.HK) disclosed dealings in its shares by Morgan Stanley Capital Services LLC, a Class (5) associate connected with the Offeror. According to the announcement, Morgan Stanley Capital Services LLC conducted multiple purchase and sale transactions in derivatives referencing a combined total of 100,316 units on 17 October 2025. The reference prices ranged from approximately US$65.41 to US$66.26, with maturity dates between 30 January 2026 and 29 September 2027.
All transactions were unsolicited client facilitation trades executed for Morgan Stanley Capital Services LLC’s own account, with each purchase mirrored by a corresponding sale for the same volume and reference price. The resultant balance following these transactions stood at zero. The disclosure further confirms that Morgan Stanley Capital Services LLC is ultimately owned by Morgan Stanley and remains connected to the ongoing privatisation arrangement for ENN Energy through its Class (5) associate status.