On November 21, Elife Holdings (00223.HK) announced that the company proposes a rights issue, with a ratio of one (1) new share for every five(5) existing shares held on the record date, at a subscription price of HK$0.10 per share, to issue up to 0.271 billion new shares to eligible shareholders, aiming to raise approximately HK$27.12 million (before expenses).

The net proceeds from the rights issue are estimated to be up to approximately HK$26.3 million, intended for (i) developing the group’s brand communication business, (ii) developing the group’s brand supply chain business, and (iii) the group's general operating funds.