Aspial proposes rights issue of 1-for-25 shares

ASPIAL Corporation is embarking on a fresh round of fund raising.

It is proposing a rights issue to raise about $23.3 million in net proceeds.

The offer entitles shareholders to subscribe for one share for every 25 shares held at the price of 38 cents apiece.

This represents a discount of about 13 per cent to the current share price.