South Africa – NewGold Issuer, the issuer of the largest exchange traded funds in South Africa, issued an additional 400 000 NewGold palladium debentures on Friday.
The palladium debentures have been issued at an approximate issue price of R93.50, following subscriptions in respect of about 3 981.813 fine troy ounces of palladium.
Since the additional issue of debentures, there are a total of 51 284 696 NewGold palladium debentures in issue, which is reference to about 510 515.200 fine troy ounces of palladium.
ETF’s enable investors to invest directly in actual bullion and gain direct exposure to the Rand performance of bullion, as opposed to investing in the performance of metals indirectly through mining equity.
NewGold Issuer is the issuer of Absa Bank’s NewPlat, NewGold and NewPalladium ETF’s as well as Standard Bank’s AfricaGold, AfricaPlatinum and AfricaPalladium ETF.