Sprott Declares IPO of 28,000,000 Units for Sprott Physical Platinum and Palladium Trust

Forbes reported that Sprott Asset Management announced that Sprott Physical Platinum and Palladium Trust will issue in its IPO of 28,000,000 units at $10.00 each.

As quoted in the market news:

As part of the Offering, the Trust has granted the underwriters an over-allotment option which is exercisable in whole or in part to purchase up to an additional 4,200,000 Units at US$10.00 per Unit.

The units will be listed on the NYSE Arca and the Toronto Stock Exchange under the symbols ‘SPPP’ and ‘PPT.U’, respectively. The Offering was made simultaneously in the United States and Canada. Morgan Stanley and RBC Capital Markets acted as global co-ordinators for the Offering.

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