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LONDON - iShares Physical Metals Plc announced on Tuesday the issuance of 1.14 million additional securities of its iShares Physical Gold ETC, according to a final terms document released today.
The new securities represent Tranche Number 2372 of the gold-backed exchange-traded commodity (ETC), which trades on the London Stock Exchange and Frankfurt Stock Exchange. Following this issuance, the total number of securities in the series will increase from approximately 392.93 million to 394.07 million.
Each security has a metal entitlement of 0.019414091 fine troy ounces of gold as of the subscription trade date. The issue price for the new securities is $79.408485 per unit.
The ETC maintains a total expense ratio of 0.12% per annum, which is applied to the metal entitlement on a daily basis. The securities are backed by physical gold held in allocated accounts.
iShares Physical Gold ETC securities are undated with no final maturity date. They are secured, limited recourse obligations of the issuer that rank equally among themselves.
The additional securities will be admitted to trading on the regulated market of the London Stock Exchange and the Frankfurt Stock Exchange, where existing securities of the series are already traded.
The information was disclosed in a regulatory filing based on a press release statement from the company.
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