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Platinum

Absa to launch platinum-backed ETF on Botswana Stock Exchange

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Absa has received approval for the listing of 400,000 securities of its NewPlat exchange-traded fund (ETF) on the Botswana Stock Exchange (BSE).

The ETF, which Absa first listed on the Johannesburg Stock Exchange back in April 2013, is designed to allow both institutional and retail investors to track the price of platinum bullion, with the added benefit of low management fees.
 
NewPlat joins Absa’s NewGold as the company’s second ETF listing on the BSE and the exchange’s third in total following the listing of Nedbank Capital’s BettaBeta in 2011.

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