Deals
Post-Qaddafi Libya Bourse Opens as 4 IPOs Seen by Year-End
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Libya’s bourse, closed for more than a year as armed conflict ended Muammar Qaddafi’s four-decade rule, began trading of 10 stocks today and aims to list at least three more in 2012 as the economy stabilizes.
Libya’s LYX index was unchanged today as one trade of Commercial & Development Bank took place, General Manager Ahmed Karoud said by phone today. Average daily trading totaled no more than 400,000 dinars ($318,000) a day prior to the closing of the Libyan Stock Exchange in February 2011. The bourse is in talks with three to four companies in the real-estate and oil industries that are considering initial public offerings this year, and will announce their names next month, he said.