Shandong Molong Petroleum Machinery Company Limited (00568) has announced that all conditions precedent for the share placement, as set out in the placement agreement, have been fulfilled. This includes obtaining approval from the listing committee for the listing and trading of the placement shares, and the placement was completed on July 29, 2026.

On July 29, 2026, a total of 25,678,400 new H-shares were successfully allotted and issued by the company at a placement price of HK$4.58 per share. These shares represent approximately 9.11% of the total issued H-shares and approximately 3.12% of the total issued shares, both after the allotment and issuance of the placement shares. The shares were placed to no fewer than six placees, who, along with their ultimate beneficial owners, are independent third parties. They have no connection with the company, its connected persons, any directors, supervisors, chief executives, or substantial shareholders of the company or any of its subsidiaries, or their respective associates.

The total net proceeds from the placement, after deducting commissions and estimated expenses, amount to approximately HK$116 million.