ENN Natural Gas – Morgan Stanley Discloses RMB2.82 Million Net Share Purchase During Delta-1 Hedging

Bulletin Express
Yesterday

23 March 2026 – The Executive has received a Rule 22 disclosure under the Hong Kong Code on Takeovers and Mergers regarding dealings in A-shares of ENN Natural Gas Co., Ltd. linked to the company’s pending privatisation by scheme of arrangement.

Morgan Stanley & Co. International plc (MSCI), identified as a Class (5) associate of the offeror and ultimately owned by Morgan Stanley, executed Delta-1 hedging trades on 20 March 2026:

• Purchases: 125,900 A-shares for RMB2.99 million at prices between RMB22.68 and RMB23.97.

• Sales: 8,000 A-shares for RMB0.18 million at prices between RMB22.17 and RMB22.77.

The transactions resulted in a net acquisition of 117,900 shares, representing a net cash outflow of RMB2.82 million. All trades were conducted for MSCI’s own account and stemmed from wholly unsolicited client-driven orders.

The disclosure forms part of ongoing reporting requirements during the privatisation process of ENN Natural Gas. No additional financial terms or strategic intentions were provided in the filing.

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