On 20 January 2026, a public disclosure form was issued regarding the privatisation of ENN Natural Gas Co., Ltd. by way of a scheme of arrangement. The announcement detailed securities dealings involving a Class (5) associate connected with the Offeror, Morgan Stanley & Co. International plc.
According to the document, Morgan Stanley & Co. International plc disclosed multiple derivative transactions in the A shares of ENN Natural Gas Co., Ltd. on 19 January 2026. Several purchase and sale dealings were facilitated for its own account, with reference prices ranging from approximately RMB19.54 to RMB19.63. The notional volumes included purchases and sales of varying quantities, including a significant transaction of 42,100 shares under a derivative product maturing on 19 January 2028.
Morgan Stanley & Co. International plc is ultimately owned by Morgan Stanley and executed these transactions in RMB. The disclosure notes that the entity is a Class (5) associate of the Offeror and that all dealings were conducted for its proprietary account.

