Shandong Molong (00568) has announced that all conditions precedent to the placement under the placement agreement have been fulfilled, including obtaining approval from the Listing Committee for the listing and trading of the placement shares, and the placement was completed on September 28, 2026.
On September 28, 2026, a total of 33.6156 million new H shares, representing approximately 10.66% of the total issued H shares as enlarged by the allotment and issuance of the placement shares and approximately 3.92% of the total issued shares as enlarged by the allotment and issuance of the placement shares, were successfully allotted and issued by the company at a placement price of HK$3.50 per placement share to no fewer than six placees. These placees and their ultimate beneficial owners are all independent third parties and are not connected with the company, any connected person of the company, any director, supervisor, chief executive or substantial shareholder of the company or any of its subsidiaries, or any of their respective associates.
The total net proceeds from the placement, after deducting commissions and estimated expenses, amounted to approximately HK$115 million. As a result of the issuance of the placement shares, the total number of issued shares increased from 824 million shares to 857 million shares.
Upon completion, the total number of issued H shares increased from 282 million H shares to 315 million H shares, while the number of A shares remained unchanged at 542 million A shares.
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