Sprott to List a Gold ETF in New York, Toronto
Source: 24/7 Wall St., Jon C. Ogg (12/11/09)
". . .the SPDR Gold Shares (NYSE: GLD) is about to get some new competition. . ."
The filing noted that the initial public offering price will be $10.00 per unit to investors who are prepared to invest a minimum initial subscription amount of $1,000.00. The trust intends to file an application to list its units on the New York Stock Exchange for the ticker "PHYS" and the Toronto Stock Exchange under the ticker "PHY."
Underwriters are listed as Morgan Stanley and RBC Capital Markets. As far as how this compares in size, The SPDR Gold Trust has a market cap somewhere north of 50-times that of this new filing.
Details of the filing are here at the SEC site.