BUZZ-HK-listed ENN Energy hits more than 9-month peak on takeover bid

Reuters03-27

** ENN Energy Holdings 2688.HK soars 17.3% to HK$69.75, highest since June 14, 2024

** Top pct gainer on Hang Seng Index .HSI, which is up 0.2%

** Shanghai-listed ENN Natural Gas 600803.SS climbs 2.1% to 20.06 yuan

** ENN Natural Gas, which holds 34.28% stake in ENN Energy, proposes to buy the rest of the clean energy distributor for HK$59.48 bln to streamline ops

** Natural gas operators are urgently required to integrate upstream and downstream resources to better respond to changes in global supply chain, ENN Energy and ENN Natural Gas said

** Offer made on March 18 values each ENN Energy share at HK$80, a 47.6% premium to close of HK$54.20 on March 14

** ENN Energy gains 16.6% YTD

($1 = HK$7.7753)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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