0152 GMT - ENN Energy Holdings is likely to benefit from attractive HK$80.00/share privatization offer by its parent company, UOB Kay Hian analysts say in a research report. ENN Natural Gas, the controlling shareholder of ENN Energy, recently announced a HK$90.5 billion buyout proposal to fully privatize ENN Energy, and plans a dual listing in Hong Kong, the analysts note. The privatization offer and dual listing plan will enable the group to streamline operations, enhance capital efficiency, and support long-term growth in China's energy sector, the analysts add. The brokerage upgrades the stock's rating to buy from hold and raises the target price to HK$73.70 from HK$58.40. Shares are 0.9% higher at HK$64.80. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 21:52 ET (01:52 GMT)
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