Gold by Gold raises €1.17 million to buy physical gold, demand at €1.32 million
Conducted with preservation of the preferential subscription right from October 19 to November 6, 2026, the offering received demand exceeding the amount ultimately issued.
With the June 2026 fundraising, it brings to “more than €2.6 million” the funds raised in six months to build the Reserves division, according to Chairman and CEO Patrick Schein.
Demand exceeding the number of shares ultimately created
Overall demand covered 331,171 shares at a unit price of €4.00, i.e. €1,324,684.00. The subscription price of €4.00 represented a 16% discount to the closing price on October 9, 2026, the day preceding the setting of the issue price.
Orders were split between 89,073 shares under irreducible entitlement, 112,746 under reducible entitlement and 129,352 under the open (free) category. The board of directors, meeting on November 10, 2026, decided to create 292,048 new shares, for an amount raised of €1,168,192.00.
Orders under irreducible and reducible entitlements (201,819 shares) will be fully allocated, and those under the free category up to 90,229 shares. Settlement-delivery and admission of the new shares to trading on Euronext Growth in Paris will take place on November 16, 2026.
The share capital will then consist of 3,373,838 shares. A shareholder who held 1.00% of the capital and did not subscribe will see its stake reduced to 0.91%.
Net proceeds entirely earmarked for the purchase of physical gold
The net proceeds will be fully used to acquire, “in the very next few days”, new quantities of responsible physical gold for the Reserves division, which already holds 10.5 kilograms of gold. These reserves are held separately and in segregated form within the company, with regular financial communication on the accumulated quantity.
Patrick Schein specifies that the bars acquired will be of “institutional quality” and associated with Fairmined Credits, which “directly reward artisanal and small-scale miners engaged in responsible practices”. He also highlights the eligibility of the shares for the PEA and PEA PME-ETI savings plans.
According to the company, this second operation is intended to be followed by further equity strengthening, depending on market conditions and investor participation, with no commitment or timetable at this stage. In parallel, Gold by Gold intends to develop its historical Trading and Refining activities, which remain its main activities.
