CyberTowers Bhd signed an underwriting agreement with Affin Merchant Bank Bhd and K&N Kenanga Bhd for its proposed listing on the Kuala Lumpur Stock Exchange Mesdaq Market. The underwriting agreement covers 10.98 million new ordinary shares made available for subscription by the public. Cybertowers, which will issue 40 million ordinary shares of 10 sen each, is tentatively slated for listing in mid-July. Its prospectus is expected to be out by the middle of this month. Cybertowers is involved in the development of an Internet-based Automated Vehicle Locating System called CyberTrack. The system allows moveable assets to be tracked on a real time basis. It integrates a wide spectrum of technologies like Global Positioning Satellite, Global System for Mobile Communications, Internet digital mapping and remote tracking device.
