AESO HOLDING (08341) announced that the board of directors has proposed a rights issue on the basis of 2 rights shares for every 1 existing share held on the record date, at a subscription price of HK$0.110 per rights share. The company plans to issue 160 million rights shares (assuming no further new shares are issued or shares repurchased by the company on or before the record date), raising up to HK$17.6 million in gross proceeds. If fully subscribed, the estimated maximum net proceeds will be approximately HK$16.4 million. The company intends to use the net proceeds from the rights issue to participate in certain contracting service projects that require financial resources and for the group's general working capital. The rights issue is not subject to any minimum subscription level or minimum fundraising amount.