More than a million platinum debentures were delisted at the start of JSE business on Wednesday, NewGold stated in a stock exchange news service (SENS) announcement.
The delisting of 1 400 000 NewGold platinum debentures, or the NewPlat exchange traded funds (ETFs), had left 82 100 000 of the units in issue, the SENS notice added.
The NewGold’s NewPlat platinum ETFs had a market capitalisation of R11.7-billion at the close of JSE business on Tuesday, when the closing price was R128.63. Annualised return has been -0.45%.
The debentures are backed by physical platinum bullion, with each debenture worth about one hundredth of a fine troy ounce of platinum bullion, which is held on behalf of investors.