Nairobi Securities Exchange(NSE) has adopted the same International Securities Identification Number (ISIN) initially allocated to NewGold on its listing on the Johannesburg Securities Exchange(JSE).
The ISIN for Kenya has therefore been changed from KES5000007095 to ZAE000060067,
effective 28 January 2022. All other NewGold, platinum and palladium debentures listings remain unaffected by this change.
Investors are advised that when NewGold listed its gold debentures on the Nairobi Securities
Exchange, the exchange traded fund was allocated an international securities identification
number (ISIN) specifically for its Kenya listing.
However, the NewGold gold debentures at the NSE were allocated an ISIN at the time it was initially listed on the Johannesburg Securities Exchange(JSE), resulting in two ISINs being allocated to the same debentures causing confusion in the market as well as for trading purposes.
The ISIN Guidelines on Financial and Referential Instruments (sections 1.1 and 1.2) provides that a cross or dual listed security shall be identified by one ISIN.
The Capital Markets Authority (CMA) granted approval for the listing of the first Exchange Traded Fund (ETF)at the NSE, issued by NewGold Issuer (RF) Limited.
NewGold Issuer (RF) Limited is a company incorporated in South Africa.
NSE has listed the Absa NewGold ETF on its main investment market segment
NewGold Issuer (RF) Limited issued and listed 400,000 Gold Bullion Debentures as a secondary listing on the Nairobi Securities Exchange (NSE) main investment market segment.
The value of NewGold ETF tracks the price of gold. ETFs are a type of listed open-ended index or unit instrument bought or sold on a securities exchange.
The index or unit may be composed of ordinary stocks, bonds, commodities, futures or a combination of real assets with the objective of allowing for exposure to a portfolio of securities, assets or indices whose price movement is in tandem with the price movement of the constituent underlying securities or commodities.
An ETF can be a domestic or offshore product.
CMA developed Policy Guidance Notes in September 2015 to operationalize the trading of ETFs in Kenya.
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