On 21 January 2026, a public disclosure form under the Hong Kong Code on Takeovers and Mergers announced details of dealings in the shares of ENN Energy Holdings Limited in connection with a proposed privatisation by way of a scheme of arrangement. The report indicates that Morgan Stanley Capital Services LLC, a Class (5) associate connected with the Offeror, conducted several unsolicited client facilitation transactions on 20 January 2026. These transactions involved derivatives referencing different notional quantities, with matched sale and purchase orders resulting in a zero balance. The disclosed maturity dates ranged from 13 November 2026 to 31 December 2027, and reported reference prices were around the US$68 range.
Morgan Stanley Capital Services LLC is ultimately owned by Morgan Stanley and confirmed that the dealings were made for its own account. The disclosed information is provided pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers for transparency in the ongoing privatisation process.
