Mike Foster, of FINANCIAL NEWS, is reporting that ETF Securities is setting up a Potential $1 billion IPO. It appears that ETF Securities retained Citigroup and Bank of America Merrill Lynch to discuss its strategic options including an initial public offering. What is the reason for the IPO? One senior banker said an IPO would provide the ETF Securities team with acquisition currency for potential deals as well as a chance for owners to cash in.
ETF Securities is a global company based in London, UK, specialising in managing exchange-traded funds (ETFs), Exchange Traded Commodities (Commodity ETCs) and Exchange Traded Currencies (Currency ETCs). ETFS’ first U.S. ETF was the ETFS Physical Silver Shares (NYSEArca:SIVR), and currently has more than $983 million in assets.
You can read Mike’s full report: HERE