IT companies E-Com Multi (ASX:ECE) and entellect solutions (ASX:ESN) have both called for trading halts while they prepare to announce separate major share placements.
IT, telecom and e-commerce company E-Com Multi said it is close to executing an MOU with a group that will involve the issue of a significant number of securities.
The transaction will require shareholder approval, and will likely be announced tomorrow, E-Com said.
Educational software developer Entellect meanwhile said it was close to announcing significant progress on its proposal to raise up to $26.5 million through the placement of 15.41 billion new shares to institutional investors.
ESN shares have been frozen at $0.002, while ECE stands at $0.010.