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The former expects to raise $32.自存倉1m from private placement and the latter $4.27mCORDLIFE Group and Artivision Technologies yesterday announced that they are raising funds via share placements.Cordlife has proposed a private placement of 26.8 million shares that is expected to raise gross proceeds of $33.5 million. After deducting fees and expenses, the group expects to raise net proceeds of $32.1 million.Cordlife, which runs a cord blood bank, intends to offer 17.8 million shares at $1.25 each via placement agent United Overseas Bank, while the remaining 9.038 million shares will be taken up by Caerus Capital and four other investors via subscription agreements.The issue price of $1.25 represents a discount of 4.8 per cent to the volume-weighted average price of $1.3137 per share for trades done on Sept 30.Of the net proceeds, $23.5 million will fund its expansion plans abroad, including investments, joint ventures, acquisitions or strategic alliances, while the rest will be used for general working capital purposemini storage. Last month, the group bought a 20 per cent stake in Malaysian cord blood banking company StemLife Berhad for $11.5 million.It called for a trading halt after noon on Tuesday, which was lifted after this announcement yesterday evening.Meanwhile, Artivision Technologies expects to raise net proceeds of $4.27 million from its proposed placement of 35.7 million new ordinary shares at 12.222 Singapore cents each.This price is a discount of 10 per cent from the volume-weighted average price of 13.58 Singapore cents per share for trades done on Sept 27.Artivision intends to use up to $3.5 million of the net proceeds to settle unpaid construction costs for the Thai factory of Colibri Assembly Thailand Co (CAT). It entered into a conditional sale and purchase agreement to acquire CAT last Thursday.The rest of the proceeds will be used for working capital requirements or future expansion and acquisition plans. Artivision called for a trading halt on Monday morning, which was lifted after its announcement yesterday evening.儲存