WT GROUP (08422) announced that its board of directors has recommended a rights issue on the basis of 2 rights shares for every 1 existing share held on the record date. The subscription price is set at HK$0.10 per rights share. The company plans to issue up to 240 million new shares, assuming no further issuance or repurchase of shares occurs before the record date. This initiative aims to raise a maximum of HK$24 million. Should the rights issue be fully subscribed, the net proceeds are estimated to reach approximately HK$22.5 million. The company intends to use the net proceeds from the rights issue to fund preliminary costs and working capital requirements at various stages of the group's projects, as well as for general corporate purposes. The rights issue does not have a minimum subscription level or a minimum fundraising amount.