ETF Securities prepares $1bn listing

ETFS launched its first ETP, Gold Bullion Securities, in London and Australia in 2003. As commodity prices have boomed, the firm's assets have followed suit, growing nearly 150% since May 2009 to a total of $26.8bn at the end of February according to the latest BlackRock research. The issuer is now said to have employed Citigroup and Bank of America Merrill Lynch to discuss its options, including a possible share listing. All parties have refused to comment, although ETFS founder and chairman Graham Tuckwell revealed the issuer has a positive cash flow, meaning the IPO would not be ne...