The rights shares are priced at 1.65 cents each, and 1 rights share will be offered for each ten existing shares held.
Rights subscribers will receive four warrants for each rights share taken up. The warrants come with an exercise price of 4.5 cents.
Up to a total of nearly 144.5 million new rights shares, and up to just over 577.9 million warrants will be issued.
The rights shares are priced at a discount of around 23.3% to the theoretical ex-rights price of 2.15 cents which is the last traded price of Zixin shares, on March 27.
This equity raising will not be underwritten.
See also: mm2 Asia seeks to raise $15 mil in proposed placement round at 0.8 cents per share
With the new funding, Zixin wants to expand its processing and R&D capacity and also expand its network of suppliers, and to also fund joint ventures and partnerships.
