In a move reflecting the growing interest in rhodium investments, 1nvest ETF, has announced the listing of additional 1nvestRhodium debentures on the Johannesburg Stock Exchange (JSE) under the share code ETFRHO. This decision comes as a response to the strong demand for rhodium, a precious metal widely used in industrial applications.
Effective from July 7, 2023, 1nvest ETF has commenced the issuance of 2,500 additional 1nvestRhodium debentures. The approximate issue price for each debenture is R1,331.0200. This issuance follows subscriptions equivalent to approximately 23.412 fine troy ounces of rhodium.
With this latest offering, the total number of 1nvestRhodium debentures in circulation will reach 201,505. These debentures serve as a reference to around 1,907.506 fine troy ounces of rhodium, further solidifying 1nvest ETF’s position as a key player in the rhodium market.
Rhodium, renowned for its exceptional catalytic properties, finds extensive use in the automotive industry for catalytic converters, as well as in the production of glass, electrical components, and various chemical processes. As environmental regulations tighten and the demand for clean energy solutions grows, the demand for rhodium has experienced a notable upsurge.