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LONDON - iShares Physical Metals Plc announced on Tuesday the issuance of 363,000 securities of its iShares Physical Gold ETC, representing Tranche Number 2376 of the series. The securities were issued at a price of $79.06 per unit.
The latest issuance brings the total number of securities in the series to 393,096,777, up from 392,733,777 prior to this tranche. Each security has a metal entitlement of 0.019413644 fine troy ounces of gold.
The securities have been admitted to trading on the regulated market of the London Stock Exchange and the Frankfurt Stock Exchange. They are backed by physical gold held in allocated form by custodian JPMorgan Chase Bank, N.A., London Branch.
According to the company, the securities have a total expense ratio of 0.12% per annum, which is applied to the metal entitlement on a daily basis. The securities are undated with no final maturity date.
The iShares Physical Gold ETC securities provide investors with exposure to gold without requiring physical delivery of the metal. Investors can buy and sell the securities through financial intermediaries on exchanges where they are listed.
The company noted that authorized participants for the series include Susquehanna Ireland Limited, Credit Suisse Securities, Morgan Stanley & Co International, Virtu Financial Ireland, Jane Street Financial, Merrill Lynch International, Flow Traders, Optiver, Citigroup Global Markets, and HSBC Bank.
This information is based on a press release statement from iShares Physical Metals Plc.
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