City File: Avesco

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AN OLD chestnut is suddenly showing signs of life. Avesco, a perpetually loss-making electronics firm, has climbed back to 80p following gyrations between 14p and 165p over the past four years. This time the rise could be real: it is due to a new chip being produced by Avesco's Videologic subsidiary in conjunction with IBM, which could transform the humble PC into an all-singing 'multi-media' instrument, combining TV and video pictures. One believer is SG Warburg, which deigned to help with the recent rights issue that the market absorbed without a blink. Avesco remains a gamble but, for the first time, worth a punt.