Viking takes ICP Bio stake

Newly-listed cash box Viking Capital yesterday made its first investment - an 11.5 percent stake in listed ICP Biotechnology.

ICP manufactures and sells proprietary bio-technology media and products, principally used in animal health, veterinary and human pharmaceuticals.

Viking Capital will pay $1.75 million and issue 2 million of its shares for 15.3 million ICP shares.

Viking executive chairman Brent King will join the ICP board with fellow Viking director Grant Baker.

- NZPA