Shandong Molong Petroleum Machinery Company Limited announced the successful completion of its H-share placement on 28 September 2026. All conditions outlined in the placing agreement were met, including approval from the Hong Kong Stock Exchange’s Listing Committee.
The company issued 33.62 million new H shares at HK$3.50 per share to not fewer than six independent placees. The newly issued shares represent approximately 10.66% of the enlarged H-share capital and 3.92% of Shandong Molong’s expanded total share base. Net proceeds, after deducting commissions and estimated expenses, amounted to about HK$114.89 million.
Following the transaction, Shandong Molong’s total issued shares rose from 823.53 million to 857.14 million. The H-share count increased from 281.80 million to 315.42 million, while the A-share tally remained unchanged at 541.72 million. Consequently, H shares now constitute 36.80% of the company’s overall share capital, up from 34.22% prior to the placement.
Shouguang Molong Holdings Co., Ltd. continues to hold 235.62 million A shares—equivalent to 43.49% of the A-share class and 27.49% of Shandong Molong’s total issued shares—through its parent entity, Shandong Shouguang Jinxin Investment Development Holdings Group Limited.
The company stated it will finalize the requisite China Securities Regulatory Commission filings related to the placement in due course.
Comments