Imperial Technology Group (0776) proposed a rights issue on the basis of one rights share for every two shares held, at a subscription price of HK$0.19, representing a discount of about 66.67% to the previous day’s price, according to Ming Pao.

The company plans to issue 223 million shares and expects net proceeds of HK$40.55 million.

Imperial Technology Group also said it will change its board lot size to 5,000 shares from 500 shares, effective July 15.