Are you looking for a stock?

Try one of these

Related Videos

Sprott silver ETF expected to raise $500M

Sprott Inc. (SII-T), the Canadian fund manager specializing in resource investments, said on Friday that it planned to raise $500 million US in the initial public offering of the Sprott Physical Silver Trust.

The offering will consist of 50 million units priced at $10 each.

The trust, which will be managed by Sprott Asset Management, will invest and hold nearly all its assets in silver bullion.

It will be listed on the NYSE Arca and the Toronto Stock Exchange under the symbols "PSLV" and "PHS.U," respectively.

The offering was made simultaneously in the United States and Canada through a syndicate of underwriters led by Morgan Stanley and RBC Capital Markets.

As part of the offering, the underwriters have been granted an overallotment option to purchase up to an additional 7,500,000 units at $10 each.

The Canadian syndicate includes TD Securities Inc., Canaccord Genuity Corp, National Bank Financial Inc., BMO Capital Markets, HSBC Securities (Canada) Inc, GMP Securities LP, Wellington West Capital Markets Inc, and Mackie Research Capital Corp.

Sprott did an initial public offering of the Sprott Physical Gold Trust in March, which raised $400 million. The value of that trust crossed the $1-billion mark at the end of last month as gold prices soared. CTV Two CTV News CTV News Channel BNN - Business News Network CP24