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Viking Capital chief Brent King is on the look out for a new investment but says he can afford to be picky because the market is flooded with offers.
The NZAX-listed company re-registered a prospectus to enable it to raise up to $20 million from the public through a bond offer on Monday.
King said the company had initially registered the prospectus a year ago and had not issued any stock. But the company had re-registered it to keep its options open.
He could not discuss whether the firm was looking at a specific business because of listing rules but said the company was being approached daily with offers.
"There is a shortage of capital so there are many opportunities out there. We are just looking very carefully at what is coming up."
Viking Capital currently invests in three businesses - the unlisted Investment Research Group and listed firms ICP Bio and Dorchester.
While Viking Capital has been selling down its stake in Dorchester, King said he was still happy with its investment in ICP Bio and IRG.
King said ICP Bio was taking longer to achieve the sales it wanted but still had a lot of potential. "There is lots happening there," he said.
IRG had already grown from $8 or $9 million under management to $65 million since Viking bought it. King said he was interested in investing in companies that were insulated from the domestic market.
