December 22, 2010 / 12:51 PM / 9 years ago

Libya plans telecom IPOs by end of April 2011

A view of the Cairo stock exchange in a file photo. REUTERS/

DUBAI (Reuters) - Libyan mobile telephone operators Al Madar and Libyana will list stakes on the North African country’s stock exchange by end of April, Libya’s chairman of the privatisation and investment board said on Wednesday.

“We hope we will start for that before the end of April,” Gamal Al-Lamushe told Reuters during a road show in the United Arab Emirates to attract investments in various sectors.

Asked what size stakes would be listed by the companies, he said: “We are working on it with Al Madar and Libyana ... Probably about two to five percent, that is the maximum that will be floated.”

In October, Suleiman Shehoumi, the chairman of Libya’s bourse told Reuters that each company would list 30 percent on the local market.

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