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2012-03-15

Libyan bourse reopens

The Libyan stock market on Thursday (March 15th) opened for the first time since the fall of Moamer Kadhafi. Trading resumed for 10 companies with a capital value of 3.9 billion Libyan dinars (2.4 billion euros), market manager Ahmed Karoud told AFP.

"Foreign investors will be able to own up to 10 per cent of shares," bourse Chairman Mohammed Fakroun said.

Most of the shares being traded represent the financial sector. An Islamic fund and a real estate company will also start trading in June, Karoud added, with oil companies and telecommunications giants Al-Madar and Libyana next in line.

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