Empire Beer Group is hoping to raise in the region of A$1.9m (US$1.3m) in a rights issue in the coming weeks.

The Australian craft brewer, which debuted on the country's stock market two years ago, said today (14 January) that the rights issue - at a price of A$0.045 per share - will offer shareholders one new ordinary share for every one existing share registered on 22 January.

"The funds raised will be used to continue to pursue business opportunities for the company," Empire Beer said.

The issue will be underwritten by Max Capital, and will be open from 27 January until 11 February.

For the year to the end of June, Empire Beer saw sales soar by 991% to A$7.4m.

When the company initially floated on the stock market in Australia in January 2007, its shares were issued at a price of A$0.35 each.

In June last year, the company's CEO, Brendan Cocks, left the company to "pursue other employment opportunities".