Shandong Molong Petroleum Machinery Company Limited (HK: 00568) announced on September 24, 2026, its intention to place up to 33.6156 million new H shares. Assuming full placement, these shares would represent approximately 11.93% of the company's existing issued H shares and roughly 4.08% of its total issued shares as of the announcement date.

The placement price is set at HK$3.50 per share, reflecting a discount of about 16.17% compared to the closing price of HK$4.175 per H share on September 23. If all shares are successfully placed, the total gross proceeds are expected to reach approximately HK$118 million, with net proceeds estimated at around HK$115 million.

The company intends to allocate the net proceeds as follows: approximately 70% will be used to repay borrowings, about 20% will go toward settling payables arising from daily operations, including payments for raw material procurement, and the remaining 10% will be directed to working capital and general corporate purposes.