BEIRUT: Finance Minister Ali Hassan Khalil on Wednesday sent a letter to the Cabinet requesting that Beirut Stock Exchange
be turned into a holding company to pave the way for an open capital market.
The report covered BLOM, Audi and Byblos bank, which are all listed on Beirut Stock Exchange
Byblos, BLOM, Audi, Bank of Beirut and BEMO are the only Lebanese banks listed on the Beirut Stock Exchange
The planned reduction of the budget deficit, together with the moves toward privatisation, are already helping to attract back investment after a period of "wait-and-see" in which both local and foreign investors sat on the sidelines amidst steady falls on the Beirut stock exchange
, fears about the stability of the Lebanese pound and growing concern about increased taxes, customs duties and deficit spending.
In terms of openness to foreign ownership, it said that there are no limits to foreign ownership on the Beirut Stock Exchange
, except for Israeli nationals who are formally prohibited from investing in Lebanese companies.
The report pointed out that according to statistics of the Beirut Stock Exchange
, total trading volume in the Beirut Stock Exchange
Solidere shares immediately responded to the announcement by rising on the Beirut Stock Exchange
(BSE), while their global depository receipts (GDRs) reached a five-month high in London.
1 percent, the lowest among banks listed on the Beirut stock exchange
On the Beirut Stock Exchange
(BSE), bank shares continued to dominate, reflecting the renewed confidence in the sector shown by both local and international investors.
These shares will be listed on the Beirut Stock Exchange
eventually and the firm may even list most of these stocks on the bourse," the official said.
The latter recently raised $60 million in an offer that was significantly over-subscribed, a third on the Beirut Stock Exchange
(BSE) and the remaining $40 million through a GDR issue.