(Bloomberg) -- Shares of ETFS Physical Platinum, the first securities backed by platinum, rose on their first day of trading in London as the price of the precious metal rebounded.
The shares gained 92 cents, or 0.7 percent, to $132.92 as of 10:19 a.m. in London. ETF Securities Ltd., which has developed 31 commodity-linked securities since 2005, said in a prospectus last week that each platinum unit represents one 10th of a troy ounce of the metal. HSBC Bank USA was hired to buy and store the platinum for investors.
Read more at Bloomberg Commodities News
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