UPDATE 1-Sprott Physical Gold Trust sets IPO terms

* Plans to sell 75 mln units for $10 each

* Plans to list on NYSE Arca and TSX

NEW YORK, Feb 2 (BestGrowthStock) – Gold investor Sprott Physical
Gold Trust on Tuesday set the terms of its initial public
offering.

The Toronto, Canada-based company said it hopes to sell 75
million units for $10 each, raising about $750 million at the
midpoint.

Sprott invests in gold bullion. It said in a filing with
the U.S. Securities and Exchange Commission that it provides an
exchange-traded alternative for investors interested in a
long-term gold bullion investment.

The company said it would use net proceeds from the IPO to
buy gold bullion.

The Trust plans to list on the New York Stock Exchange Arca
under the symbol “PHYS” and the Toronto Stock Exchange under
the symbol “PHY”.

The underwrites are being led by Morgan Stanley and RBC
Capital Markets. They have the option to purchase an additional
11.25 million units.

Growth Stocks

(Reporting by Clare Baldwin in New York; Editing by Bernard
Orr)

UPDATE 1-Sprott Physical Gold Trust sets IPO terms