NewGold Issuer (RF) Limited, a South African firm listed at the Nairobi Securities Exchange (NSE), recorded a net profit of US$1.5 Million for the half-year period ended September 2023.
Trading at the NSE as Absa NewGold ETF under the ticker symbol “GLD”, NewGold made US$ 2.3 million at the end of the half-year period while its pre-tax profit was US$ 2.1 million. Its balance sheet size was worth US$ 1.2 billion while dividends paid to owners of the company amounted to US$ 1.3 million.
GLD closed its last trading day (Thursday, October 19, 2023) at KSh 2,840.00 per share on the NSE, recording a 12.3% gain over its previous closing price of KSh 2,530.00.
It began the year with a share price of KSh 2,165.00 and has since gained 31.2% on that price valuation, ranking it seventh on the NSE in terms of year-to-date performance.
Absa New Gold ETF was first listed at the NSE in March 2017 where NewGold Issuer (RF) Limited issued 400,000 Gold Bullion Debentures at a price of KSh 1,205 per share.
Each NewGold security is equivalent to approximately 1/100th of an ounce of gold which is held in a secure depository on behalf of investors and is backed by physical gold.
The value of the NewGold Exchange Traded Funds(ETF) tracks the price of gold. The Exchange Traded Funds price is based on the real-time cash market values of the gold price and the real-time price of the Kenya Shilling.
The price movements of the ETF are determined by the price movement of gold.
At the moment, Gold Prices are at US$1988.50, up from $1953.60 the previous market day ,and up from US$1635.30 one year ago. This is a change of 1.79% from the previous market day and 21.60% from a year ago.
NewGold Issuer (RF) Limited, a wholly-owned subsidiary of NewGold Owner Trust, was listed on the ETF sector of the Johannesburg Stock Exchange in 2004.
NewGold debentures secondary listings include; the Botswana Stock Exchange, Nigeria Stock Exchange, Stock Exchange of Mauritius, Namibia Stock Exchange, Nairobi Securities Exchange, and Ghana Stock Exchange.
The counter is currently the 47th most valuable stock on the NSE with a market capitalization of KSh 710 million, which is about 0.05% of the NSE equities market.
The GLD stock has accrued 10% over the past four-week period and is ranked as the fourth-best performer on NSE.