Royal Canadian Mint Said to Raise C$600 Million From Gold Receipts IPO

Bloomberg reported that an IPO of Royal Canadian Mint securities raised $600 million.

As quoted in the market news:

Each exchange-traded receipt represents ownership in physical gold bullion held in custody of the Royal Canadian Mint. Proceeds from the sale will be used to buy gold, and the buyers of the receipts will own the metal rather than a stake in the mint.

Click here to read the full Bloomberg report.