Shandong Molong Petroleum Machinery Company Limited (00568), a Hong Kong-listed oil equipment manufacturer, has recorded a change in its share custody position. The latest filings from the Hong Kong Stock Exchange show that on July 29, the company's shares experienced a notable custody shift, with a total market value of HKD 1.30 billion deposited into custody, representing 10.03% of the total issued shares.

A shareholder of the company transferred 13.7464 million shares into Citibank, resulting in a 1.22% decrease in their shareholding proportion. This movement indicates a significant adjustment in the ownership structure of the company's stock.

In a related development, Shandong Molong has announced that all conditions precedent under the placing agreement have been satisfied, including obtaining approval from the listing committee for the trading of the placed shares. The placing was completed on July 29, 2026. On that date, the company successfully placed and issued a total of 25.6784 million new H-shares at a price of HKD 4.58 per share. These shares constitute approximately 9.11% of the total issued H-shares and about 3.12% of the total issued share capital, both after the issuance of the placing shares. The shares were placed to no fewer than six placees, all of whom are independent third parties. Neither the placees nor their ultimate beneficial owners are connected to the company, its connected persons, any directors, supervisors, chief executives, or major shareholders of the company or its subsidiaries, or their respective associates.

The net proceeds from the placing, after deducting commissions and estimated expenses, amount to approximately HKD 116 million.