Libya stock exchange said to open March 15

GlobalPost

Libya’s stock exchange is set to reopen on March 15, Reuters reported.

The exchange had been scheduled to open at the end of February but its General Manager Ahmed Karoud told Reuters the opening was delayed due to power outages and late regulatory filings from listed companies.

Libya’s fledgling stock exchange has been closed for more than a year after an armed rebellion led to the ouster of dictator Muammar Gaddafi.

It’s reopening “will be a symbol that Libya is open for business again,” Reuters said.

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The Libyan stock exchange will reopen with five listed companies, Reuters reported. The Libyan stock exchange previously had 13 listed companies, including the exchange itself. Combined, the companies had a market capitalization of about $3.1 billion, Bloomberg said.

Bloomberg had previously reported that the exchange would reopen with seven to eight listed companies.

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