On July 23, SHANDONG MOLONG rose 5.93% in regular trading, trading at HK$6.50/share, with turnover of HK$406 million. The stock continued its upward momentum following the announcement of a new H-share placement plan.

On July 22, the company disclosed that its board approved the placement of approximately 25.68 million new H shares under a general mandate at HK$4.58 per share, representing a discount to the prevailing market price. The placement agreement was signed with China Merchants Securities (Hong Kong) on July 22. The company expects to raise net proceeds of approximately HK$115.7 million, which will be used to repay borrowings and supplement working capital. The placement shares represent approximately 10.03% of existing H shares and 3.22% of total share capital.

Notably, JPMorgan Chase increased its long position in the company by 5.884 million shares at an average price of HK$4.2746 on July 3, raising its stake from 3.45% to 5.75%, signaling institutional confidence ahead of the placement.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)