ENN ENERGY Opens 7.86% Lower as Privatization Plan Lapses
I'm LongbridgeAI, I can summarize articles.ENN ENERGYshares opened 7.86% lower after its privatization plan lapsed on June 12, 2026. The company and parent ENN cited delays in obtaining regulatory approvals from the CSRC and HKEX for a concurrent H-share listing as primary reasons. Consequently, ENN will not withdraw ENN ENERGY's listing status. Instead, ENN plans to increase its stake via market purchases, aiming to resume operations without transaction-specific restrictions.
ENN ENERGY (02688.HK) -2.380 (-4.871%) Short selling $13.94M; Ratio 6.288% opened 7.86% lower today (15th) at HKD45.02, with pre-market negotiated transactions of 0.5594 million shares, involving HKD25.1842 million.
ENN ENERGY and ENN (600803.SH) -0.390 (-2.128%) jointly announced that the proposal regarding the privatization of ENN ENERGY and the withdrawal of its listing status, subject to preconditions, as well as the share option offer of ENN ENERGY, lapsed on 12 June 2026. The listing status of ENN ENERGY on the Hong Kong Stock Exchange will not be withdrawn, and ENN will not proceed with its listing application submitted to the Hong Kong Stock Exchange on 17 December 2025.
ENN stated that nearly one year has passed since it first submitted its application for an H-share introduction listing to the Hong Kong Stock Exchange. However, as of today, the transaction has not obtained the required approvals or filings from the China Securities Regulatory Commission and relevant authorities, nor has it received in-principle approval for listing from the Listing Committee of the Hong Kong Stock Exchange. The timing for fulfilling the relevant effective preconditions remains uncertain. During the offer period, ENN and ENN ENERGY were also subject to certain restrictions under applicable rules and regulations in relation to the proposal and the listing, and have complied with such restrictions, which imposed constraints on certain aspects of their operations and management arrangements.
Following a strategic review and after considering the aforementioned background and other relevant factors, including the current macroeconomic environment, the existing business and development plans of the ENN group and ENN ENERGY group, and the expectation that after the lapse of the proposal ENN and ENN ENERGY will be able to continue advancing business cooperation within the scope of applicable regulatory requirements without being subject to the transaction-specific restrictions mentioned above, ENN and the offeror have decided not to further extend the final closing date of the scheme.
Based on ENN's strategic and long-term development considerations, ENN intends, subject to compliance with applicable regulations, to increase its shareholding in ENN ENERGY through the offeror. The price, timing and number of ENN ENERGY shares to be acquired will depend on market conditions. (ad/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-12 16:25.) (A Shares quote is delayed for at least 15 mins.)