Gold by Gold launches a capital increase of €1.54M, extensible to €1.77M, at €4 per share to purchase physical gold
In a press release published on October 13, 2026, Gold by Gold announced a capital increase with maintenance of preferential subscription rights (PSR), open to all investors. This is the second operation of this kind since the creation of the Reserves division in the first half of 2026, following an initial capital increase completed in June.
Entirety of net proceeds allocated to the purchase of physical gold
The net proceeds of the operation will be entirely allocated to the acquisition of responsible physical gold and its safekeeping within the Reserves division, which already holds 10.5 kilograms of gold (10 one-kilogram ingots and 5 one-hundred-gram ingots). According to the press release, no portion of the net proceeds will be allocated to other activities. The reserves are held separately and segregated within the company, and their evolution will be subject to regular financial communications.
The division aims to "acquire, hold and grow a reserve of responsible physical gold as a company asset in a long-term wealth preservation logic". Each gram placed in reserve is associated with a Fairmined credit, which remunerated artisanal and small-scale miners.
The group indicates that this operation is intended to be followed, in due course and depending on market conditions as well as investor uptake, by other reinforcements of equity, without commitment or timeline at this stage. Gold by Gold's historical gold trading and refining activities remain the company's principal activities, which Gold by Gold intends to continue developing.
Subscription from October 19 to November 6, with a 75% threshold
The issuance concerns 385,223 new shares at the unit price of €4.00, representing a discount of 16% compared to the closing price on October 9, 2026 (€4.79) and 15% compared to the theoretical value of the ex-rights share (€4.70). The parity is set at 8 PSR for 1 new share. The gross amount is €1,540,892, and may be increased to €1,772,024 (443,006 shares) in the event of full exercise of the extension clause; the net amount is estimated at approximately €1.4M in case of 100% subscription.
The PSR will be allocated on October 15, 2026 to shareholders registered at the close of trading on October 14, then tradable until November 4 inclusive. The subscription period runs from October 19 to November 6, 2026, and the registration of new shares on Euronext Growth in Paris is scheduled for November 16, 2026.
The capital increase may be limited to the amount of subscriptions if they reach at least 75% of the fixed amount; otherwise, it will be void. No reference shareholder or member of the executive and administrative bodies has made any subscription commitment, and the issuance is not subject to a completion guarantee.
Since PSR can only be acquired on an ordinary securities account, investors wishing to subscribe via a PEA or PEA SME-MID must proceed through free subscription, without allocation guarantee. Patrick Schein, founder and chief executive officer, will present the operation during a videoconference open to individual investors on October 20, 2026 at 6:00 PM.
