No Result
View All Result
Saturday, July 12, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Stock Exchange to re-start

byNigel Ash
February 10, 2012
Reading Time: 2 mins read
A A

Almost a year after its last share trade, Libya’s stock market is preparing to re-open with a pipeline of five Initial . . .[restrict]Public Offerings (IPOs).

With linked boards in Benghazi and Tripoli, the exchange closed last February with a total market capitalisation of just under LD4 billion ($3.1 billion) for the 12 companies which it lists, as along with its own shares.

There had been hopes, as early as last November, that the Benghazi part of the exchange could resume operations within days. However the high-backed brown plastic chairs at which the traders used to sit remained unoccupied.

Established in 2006, the exchange was far from being the vibrant financial centre Gaddafi’s regime envisaged. In January 2011, its last full month of operations, there were 991 transactions valued at a total of LD 14.1 million ($11.4 million). Most stocks were closely held, with the result that even small trades could produce disproportionate price movements. The last figures show that the exchange rose 9.7 percent in the days before the revolution erupted, leaving the index standing at 1,480 points. The official figures recorded an average price/earnings ratio of 16.7 percent but a paltry dividend yield of 0.06 percent.

There are no listings for either corporate bonds nor Libyan government paper.

RELATED POSTS

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

Among the shares listed are the National Mills and Fodder Company, the United Insurance Company, Wahda Bank, Jumhiriya Bank, the Libyan Insurance Company, Sahari Bank and the Hay Alandalus Domestic Bank.

Announcing the imminent re-opening of the market, the exchange’s general manager Ahmed Karoud told Reuters that some of the listed companies might not be able to return to the board immediately, because, largely as a result of the conflict, they had failed to file the 2011 accounts. He estimated that seven stocks would be trading by the end of March.
Karoud said that among the IPOs that were expected at some point this year would be the country’s two mobile operators, Al-Madar and Libyana, for which listing plans were already underway before the revolution.

The other three new stocks are likely to be investment funds: “The Libya Reconstruction Fund will be the first to be listed and will float in June” said Karoud.” Its capital will be around LD500 million and the fund will be for five years”. A second fund, likely to seek to raise no more than LD 250 million, will operate under Sharia finance principles.

Further away, said Karoud were IPOs from oil and construction companies.

Until now, officials admit, foreign investment in the Libyan stock market has been virtually non-existent. The main problem, they concede, is that there have never been transparent regulations that would enable overseas investors to take funds out of the country.

In 2007, the exchange set up a link with the London Stock Exchange to help it foster foreign interest but the initiative came to nothing. More promising tie ups still stand with the Cairo and Amman stock exchanges.

[/restrict]

Related Posts

CBL receives results from meetings with international banks
Business

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

July 11, 2025
Preparations for the second ‘‘Made in Libya’’ edition in Niamey, Niger progressing
Business

“Made in Libya” exhibition to be held in Benghazi from 10 to 13 August

July 11, 2025
Sirte and BACB to improve cooperation
Business

Sirte Oil completes drilling of horizontal well in Zilten field producing 1,985 bpd using local cadres

July 11, 2025
Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges
Business

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

July 10, 2025
Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions
Business

Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

July 10, 2025
NOC announces force majeure at Zawia port
Business

Libyan Fertiliser Company’s urea plant achieves a 95 percent production rate

July 10, 2025
Next Post
Jalil denies rumours about Jordan contract, Israel and contact with Qaddafi family

Jalil denies rumours about Jordan contract, Israel and contact with Qaddafi family

LD 20 notes withdrawn – Deadline for LD 50 notes brought forward.

LD 20 notes withdrawn - Deadline for LD 50 notes brought forward.

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.