Underwriting agreement for Cybertowers

  • Business
  • Saturday, 07 Jun 2003

CYBERTOWERS Bhd, en route to a listing on the Mesdaq mid-July, has signed an underwriting agreement with Affin Merchant Bank Bhd and K&N Kenanga Bhd. 

The agreement is to cover the 10,981,250 new ordinary shares that Cybertowers will make available to the public. 

Affin Merchant said in a statement yesterday Cybertowers would issue in total 40 million shares of 10 sen each. 

Cybertowers, a company using satellite to track motor vehicles, is expected to publish its prospectus by the middle of this month. 

The company is now involved in the development of an Internet-based automated vehicle locating system CyberTrack that would allow movable assets to be tracked on real time basis – Bernama 

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