---
title: "Shandong Molong Plans HK$115.7 Million H-Share Placing to Cut Debt"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293397653.md"
description: "Shandong Molong Petroleum Machinery announced a HK$115.7 million H-share placing to cut debt. The company entered a placing agreement on July 21, 2026, with a sole agent to issue new H shares. Proceeds will primarily repay borrowings (90%) and support working capital. The new shares represent ~3.22% of total issued shares pre-placing. Completion is subject to regulatory filings and termination rights."
datetime: "2026-07-22T00:07:15.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293397653.md)
  - [en](https://longbridge.com/en/news/293397653.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293397653.md)
---

# Shandong Molong Plans HK$115.7 Million H-Share Placing to Cut Debt

Shandong Molong Petroleum Machinery ( (HK:0568) ) just unveiled an update.

Shandong Molong Petroleum Machinery has entered into a placing agreement on 21 July 2026 with a sole placing agent to issue new H shares under its general mandate. The agent will place the shares on a best-efforts basis to at least six independent professional, institutional or other investors, subject to specified termination rights and regulatory filings.

Assuming all placing shares are fully placed, the transaction is expected to raise gross proceeds of about HK$117.61 million and net proceeds of approximately HK$115.68 million. Around 90% of the funds will be used to strengthen the group’s financial structure by repaying outstanding borrowings, with the remainder for working capital and general corporate purposes.

The new H shares will represent roughly 10.03% of existing H shares and 3.22% of total issued shares before the placing, and about 9.11% of H shares and 3.12% of total shares after enlargement. The company will apply for listing and trading of the new shares on the Stock Exchange and complete required CSRC filings, while cautioning shareholders and potential investors that completion of the placing may or may not proceed.

**More about Shandong Molong Petroleum Machinery**

Shandong Molong Petroleum Machinery is a Sino-foreign joint stock company incorporated in the People’s Republic of China with limited liability. The company is listed in Hong Kong under stock code 568 and operates in the petroleum equipment and machinery sector, serving energy and industrial customers through its group structure.

**Average Trading Volume:** 75,777,816

**Technical Sentiment Signal:** Strong Buy

**Current Market Cap:** HK$5.93B

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