Rand Merchant Bank (RMB) has unveiled its second commodity exchange-traded note (ETN), Bloomberg reports. The RMB Coal ETN allows investors to invest directly in coal and is an alternative to investing in a coal-producing company.

The portfolio will also invest in coal futures, such as the Richards Bay Coal Futures contract that will be traded on the IntercontinentalExchange. The lender will list its ETN on the Johannesburg Stock Exchange.

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