FINWIRES · TerminalLIVE
FINWIRES

ENN Natural Gas Abandons $12 Billion ENN Energy Privatization Plan

By

ENN Natural Gas (SHA:600803) abandoned its proposed privatization of ENN Energy (HKG:2688), ending a nearly $12 billion buyout plan after failing to secure key regulatory approvals for the deal, according to a Friday Hong Kong bourse filing.

The proposal, announced in March last year, would have seen ENN Natural Gas acquire the ENN Energy shares it did not already own.

The company also said it will not proceed with the secondary Hong Kong listing application it submitted in December 2025.

ENN Natural Gas said approval-in-principle from the Hong Kong Stock Exchange for the listing, as well as certain approvals and filings from Chinese regulators, including the China Securities Regulatory Commission, remained outstanding.

It added that the timetable for satisfying all conditions remained uncertain.

ENN Natural Gas said it decided not to seek a further extension after considering the regulatory delays, macroeconomic conditions, and the business and development plans of both companies.

The company said it still intends to increase its shareholding in ENN Energy through its offer vehicle.

Related Articles

Asia

Asia Commercial Forecasts Rise in Full-Year Profit

Asia Commercial (HKG:0104) expects a net profit of at least HK$39 million for the year ended March 31, up from HK$24 million a year prior, according to a Friday Hong Kong bourse filing.The watch seller attributed the forecast to a reduction in fair value losses on investment properties.

$HKG:0104
Asia

Central Plains Environment Protection Subsidiary to Establish Clean Energy Supply Company

Central Plains Environment Protection (SHE:000544) wholly-owned subsidiary Zhengzhou Xinhong Reclaimed Water Resources Development and Utilization will invest 10 million yuan to establish a clean energy supply company.The newly-established company will utilize local reclaimed water, geothermal, and other resources, according to a Friday filing with the Shenzhen bourse.

$SHE:000544
Asia

OKG Technology Warns of Wider Fiscal-Year Loss

OKG Technology (HKG:1499) expects an attributable loss of at least HK$20 million for the year ended March 31, compared with HK$15.8 million a year prior, according to a Friday Hong Kong bourse filing.The construction engineering company attributed the forecast to a lower revenue from the foundation, building construction work, and ancillary services segment.

$HKG:1499