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"The NewGold exchange-traded fund (ETF) is listed in South Africa where it is the largest ETF and invests directly in gold, with around 52.5 tonnes of ..."
South African group Absa Capital said on Monday it was in talks with Kenya's capital market regulator and Nairobi's stock exchange about listing a gold-backed exchange traded fund, aiming to float in 2011.
The NewGold exchange-traded fund (ETF) is listed in South Africa where it is the largest ETF and invests directly in gold, with around 52.5 tonnes of gold bullion in assets.
Its value has catapulted as gold prices hit record highs.
Absa Capital said talks with the Capital Markets Authority (CMA) and Nairobi Stock Exchange (NSE) were positive, but in their early stages.
"I can confirm that Absa Capital ... has started discussions with the NSE and the CMA regarding a secondary listing of the NewGold ETF on the NSE," Graeme Coetzee, associate principal of marketing and corporate communications at Absa Capital, said in response to questions
The NewGold exchange-traded fund (ETF) is listed in South Africa where it is the largest ETF and invests directly in gold, with around 52.5 tonnes of gold bullion in assets.
Its value has catapulted as gold prices hit record highs.
Absa Capital said talks with the Capital Markets Authority (CMA) and Nairobi Stock Exchange (NSE) were positive, but in their early stages.
"I can confirm that Absa Capital ... has started discussions with the NSE and the CMA regarding a secondary listing of the NewGold ETF on the NSE," Graeme Coetzee, associate principal of marketing and corporate communications at Absa Capital, said in response to questions
