BUZZ-Shandong Molong's HK shares jump as Shandong Zhimeng hints at higher stake

Reuters2021-05-24

** Hong Kong-listed shares of Shandong Molong Petroleum Machinery Co Ltd surge as much as 17% to HK$8.04; stock among the 30 biggest percentage gainers on the Hong Kong bourse

** The oil casing and steel pipes production group says Shandong Zhimeng Holdings Co Ltd-led consortium has bought 20% of the firm via centralised bidding in the secondary market ()

** Says Shandong Zhimeng does not rule out the possibility of further increasing its stake in the firm and is possible for it to become the controlling shareholder in the future

** The Shandong-based firm says its controlling shareholder Shouguang Molong Holdings Co Ltd now holds 29.53% of the co

** Shandong Molong's Shenzhen-listed shares slip 2% after hitting 8.99 yuan, highest since March 2017

** The Hong Kong Hang Seng Commerce & Industry Index slips 0.9%

** The Hang Seng China enterprises index eases 0.8%, and the benchmark index slides 0.4%

(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)

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Agnes1408
2021-05-26
Agnes1408
good shares

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