The much awaited Exchange Traded Fund (ETF), NewPlat, is expected to list today (Friday 29th August 2014) on the Botswana Stock Exchange (BSE) foreign board.
NewGold issuer has announced that the listing of the NewPlat has been approved by the BSE Listing and Trading Committee.
About 400,000 platinum securities of NewGold will be traded as a way of introduction.
The BSE code for the platinum securities will be NGPT.
According to a statement from NewGold, the price of each NewPlat security will be equal to the equivalent price of spot platinum price multiplied by the US$/BWP exchange rate.
“Each NewPlat Security is equivalent to approximately 1/100 ounce of platinum,” read the statement.
The statement says from the 26th of August 2014, copies of the prospectus of NewGold will be made available for inspection at Motswedi Securities Pty (Ltd), the executing broker.
Motswedi Securities is located on Plot 113, Unit 30 Kgale Mews in Gaborone.
In an interview with Voice Money early this month, the BSE Deputy CEO Thapelo Tsheole NewPlat was successfully listed in RSA on the Johannesburg Stock Exchange (JSE) and Mauritius Stock Exchange and also they have realized that their listing of NewGold in the BSE was very successful hence the decision to bring another ETF.
“The listing of NewPlat will add to two (2) other existing ETFs in the BSE and this creates an opportunity for more ETF products to be listed on the BSE and give investors more investment options,” Tsheole had said.
The issuer said NewPlat offers the opportunity to invest in platinum bullion.
The debentures are fully backed by physical bullion with each approximately equivalent to 1/100th of a fine troy ounce of platinum bullion which is held as a secure depository on behalf of investors at an annual fee of 0.4% of its value.
In September 2013, just four months after listing on the JSE, Absa Bank Limited announced that NewPlat was the most traded ETF in the world.
This means that NewPlat had officially overtaken the premier New York-listed platinum fund, ETS Physical, which since its inception in 2010 had been the largest platinum ETF in the world.