BSE launches platinum ETF

| Monday August 25, 2014 16:20

In a statement, the BSE announced that it has approved the listing of 400,000 NewPlat securities.

NewPlat will be Absa’s second ETF on the BSE after listing its NewGold ETF in 2010.

The NewPlat will become the Botswana bourse’s third ETF after Nedbank Capital’s BettaBeta that listed in 2011.

The price of each NewPlat Security will be equal to the equivalent price of spot platinum price multiplied by the US$/BWP exchange rate.

NewPlat Securities are designed to track the price of platinum, and creates an investment tool enabling institutional and retail investors to invest in a listed security that is fully backed by platinum.