By Chris Hutching
Friday 27th October 2000
|Text too small?|
C G Surgical's 10 million shares were issued at 8c recently and Southern Capital bought one million of them. A few early trades last week saw the shares change hands at 60c but this week a parcel of 5000 shares was traded at $1.70.
South Island businessman Mr Paterson, who is a founder shareholder and director of Southern Capital, identified the opportunity to invest in C G Surgical through his links with Otago University researchers.
Other recent fledgling bio-tech companies where Southern Capital has stakes include Blis, which owns patents over a cure for throat infections, and A2 Corporation, which claims patents over milk proteins that may have significance for some health conditions. After initial stagging on Blis and A2 shares issued at 10c, trades have settled to a narrower range around 80c and $2.30, still representing considerable paper profits for Southern Capital.
Managing director Graeme Wong said Southern Capital was retaining its stakes for now.
C G Surgical was developed by engineer Richard Cathro. It has patents over a titanium and teflon clip which prevents pressure on the spinal cord. Pressure can cause neurological-related complaints.
No comments yet
Gold Report 16th July 2019
NZ dollar rises after CPI meets expectations; US dollar weakens
Yili's Westland takeover gets OIO approval
Govt eyes 2025 for farm-level emissions pricing
Govt won't "die in a ditch" for 100% renewable target
NZ 2Q CPI +0.6% on quarter, +1.7% on year
16th July 2019 Morning Report
Suspect company faces liquidation after director dies
NZ dollar holds gains; focus on domestic inflation data
MARKET CLOSE: NZ shares slip as fears over slowing Chinese growth weigh; AMP slumps