Fantasia (HKG:1777) will refrain from taking up any rights shares offered by unit Colour Life Services Group under a one-for-four rights issue, a Monday bourse filing said.

Colour Life Services, on Monday, proposed to launch the rights issue at HK$0.165 apiece to raise up to around HK$61.36 million in gross proceeds, according to the filing.

Assuming the rights shares are fully subscribed, the real estate company's stakeholding in the unit will be diluted from 52.44% to roughly 40.99%.

Following the completion of the rights issue, however, Colour Life Services Group will remain a unit of Fantasia.