Viking Marine & United Envirotech: After news of Tembusu paring down stake of Artivision, Viking has also pared down its stake in United Envirotech down from 11.2% to 4.5%. It sold 32m shares through married deals and in the open mkt at an avg price of $0.33 per share…
Proceeds of $9.7m will be used for repayment of loans and co views its holdings in United Envirotech as non-core and also for investment purposes. Viking trades at current P/E of 5.6x and United Envirotech at 9.1x. Viking’s share price has fallen sharply after it announced a lawsuit against one of its associates for $2.2m
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