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
Macquarie still upbeat on retirement village sector, consents up in November
NZ consumer sentiment rises in January to highest since April 2015
Australian's Bega buys rights to Vegemite, Kraft brands from Mondelez for A$460M
New Zealand residential building consents slide in November after quake
NZ manufacturing activity ends 2016 with above-average reading
Heartland names Air NZ's deputy finance chief David Mackrell as new CFO
NZ dollar falls as US data points to improving economic prospects
While you were sleeping: Yellen to speak
MARKET CLOSE: NZ shares down, Westpac and A2 drop while NZ Refining gains on throughput margins
NZ dollar rises above 72 US cents as Trumpflation trades unwind