chapter  12
10 Pages

LEBANON'S STOCK MARKET

Lebanon was the second country after Egypt to establish a Stock Exchange in the Middle East. It was set up in 1920 with the help of the French mandatory authorities and became a key vehicle for investment in Lebanon and Syria. When the market was closed in 1983 due to the civil war in the country, there were 46 companies listed including one French company. Total market capitalization in 1995 was around $2.67 billion with average traded daily volume of $80,000. However, many of these companies were public utilities whose concessions have since expired and returned to the government. The Beirut Stock Exchange (BSE) reopened on 25 September 1995, and trading resumed on 22 January 1996.