Exchange traded fund manager ETF Securities is considering a potential $1 billion share listing, The Wall Street Journal reported.
The company, which oversees $28 billion and specializes in commodity ETFs, has retained Citigroup (NYSE: C) and Bank of America’s (NYSE: BAC) Merrill Lynch to discuss strategic options, including an initial public offering, according to the report.
“We are cashflow positive and able to expand within a growing market,” ETF Securities founder and chairm Graham Tucker told the WSJ.
ETF Securities recently received a $70 million cash injection from Millennium.
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