The Libyan Exchange Stock Market ( ar, سوق الأوراق المالية الليبي) officially opened in
Tripoli
Tripoli or Tripolis may refer to:
Cities and other geographic units Greece
*Tripoli, Greece, the capital of Arcadia, Greece
* Tripolis (region of Arcadia), a district in ancient Arcadia, Greece
* Tripolis (Larisaia), an ancient Greek city in ...
,
Libya
Libya (; ar, ليبيا, Lībiyā), officially the State of Libya ( ar, دولة ليبيا, Dawlat Lībiyā), is a country in the Maghreb region in North Africa. It is bordered by the Mediterranean Sea to the north, Egypt to Egypt–Libya bo ...
, during March 2007.
Background
The Libyan Stock Market (LSM) was established by Suliman Alshahmy by Decision No. (134) of the
General People's Committee (GPCO), on June 3, 2006, to form a
joint stock company
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are ...
with capital of 20 million
Libyan dinars, divided into 2 million shares with a
nominal value of 10 LD per share. The first phase focused on introducing financial definitions and rules, the addition of several workshop courses, and a series of agreements with the
Amman Stock Exchange and
Cairo & Alexandria Stock Exchange
The Egyptian Exchange (EGX), Egypt's stock exchange, comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems. Presently, the chairman of the Egyptian ...
and the Egyptian Company for Clearance and deposit.
Listed market securities include the National Mills and Fodder Company, the United Insurance Company, Bank of deserts, and the Libyan Insurance Company, Sahari Bank, and the Hay Alandalus Domestic Bank. The volume of subscription on July 2, 2007, totalled 49539
shares
In financial markets, a share is a unit of equity ownership in the capital stock of a corporation, and can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an ...
, with a total value amounting to 346.773 LD.
"LIBYA 18 October 2007. A cooperation agreement was signed on Monday in London between the Libyan Stock Exchange Market and London Stock Exchange."
The agreement was signed by the Chairman of Administration and General Director of the Committee for Libyan Stock Exchange Market and the Director of the London Stock Exchange.
The agreement provides for training teams from the Libyan Stock Exchange in Tripoli and in London to enable them to run the stock market operations. In addition there will be regular reviews of the Libyan regulations and systems, to modernize them from time to time, and for seminars and conferences organized by the London Stock Exchange.
The Libyan Stock Market closed following the eruption of the
Libyan Civil War
Demographics of Libya is the demography of Libya, specifically covering population density, ethnicity, education level, health of the populace, economic status, and religious affiliations, as well as other aspects of the Libyan population. The ...
in February 2011. It remained closed until reopening the following year on 15 March 2012.
Organizer
* Head of oversight and Securities Inspection is Dr. Abdel Salam Alkesh.
Head of IT Ahmed Balras-ali
Working Hours
The Libyan Stock Exchange has normal trading sessions from 10:00am – 5:00pm Sunday-Thursday, and holidays are declared by the exchange in advance.
See also
*
List of African stock exchanges
References
External links
Libyan Foreign Investment BoardLibyan Foreign Bank
Bank of Commerce and DevelopmentLibya stock marketStock Alerts Market
{{Authority control
Organizations based in Tripoli, Libya
Stock exchanges in Africa
Economy of Libya
2007 establishments in Libya