Elife Holdings (HKG:0223) is looking to raise gross proceeds of up to around HK$27.1 million from a one-for-five rights issue, a Thursday bourse filing said.

The supply chain company will issue a maximum of 271,234,350 rights shares, representing 16.67% of the company's enlarged issued share capital, to qualifying shareholders at HK$0.10 apiece.

The company will use proceeds from the issue to develop its brand promotion and brand supply chain businesses, as well as for general working capital.