Sharechat Logo

Southern Cap's Surgical buyup

By Chris Hutching

Friday 27th October 2000

Text too small?
Southern Capital's stake in a new Howard Paterson-sponsored company, C G Surgical, has risen in value from $80,000 to $1.7 million in a couple of weeks.

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.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as MSCI changes debated, Mercury falls, Fletcher gains
NZ dollar heads for 1.6% weekly fall as greenback finds favour on rate hike view
FMA keeping close tabs on Australian Royal Commission as AMP chief Meller departs
NZ's R&D tax incentive plan viewed as positive by business
SkyCity wants at least A$200M for Darwin casino; private consortium most likely buyer: report
Syft sales jump more than 50%, profit growth misses target on production costs
Fletcher shares gain after shortfall bookbuild cleared at premium to offer price
T&G Global to sell Kerikeri assets to Seeka in deal worth about $40m
USX: Syft Technologies update to shareholders
NZX first-quarter revenue edges up with busier secondary market

IRG See IRG research reports