ENN ENERGY Once Shoots Up 17% after Being Proposed Privatization by Parent at 34.6% PremiumFinancial News

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ENN ENERGY Once Shoots Up 17% after Being Proposed Privatization by Parent at 34.6% Premium

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2025/03/27 01:35 GMT

ENN ENERGY (02688.HK) received a privatization proposal from its parent company at a 34.6% premium. The stock resumed trading today (27th), opening 16.06% higher and peaking at a 17.3% gain to HKD69.75. It last printed at HKD64.1, up 7.82%, with a trading volume of 8.2825 million shares and a turnover of HKD546 million.

ENN ENERGY had announced that its controlling shareholder, ENN (600803.SH), proposed a privatization to the company through a scheme of arrangement. The offer values each ENN ENERGY share at 2.9427 ENN ENERGY H-shares plus a cash consideration of HKD24.5. This cancellation price represents a premium of approximately 34.57% over the closing price of HKD59.45 per ENN ENERGY Share as quoted on the Hong Kong Stock Exchange on the Last Trading Day.

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Separately, ENN ENERGY announced that its net profit for last year sagged 12.2% YoY to RMB5.987 billion. It declared a final DPS of HKD2.35, compared to HKD2.31 in the same period of last year. Including the interim dividend already paid, the total DPS for the year is HKD3, equivalent to a payout ratio of 45% of the group’s core profit.