The Beirut Stock Exchange incorporates three markets:
1- An Official Market for companies whose capital is equivalent to at least $3 million in Lebanese pounds and that have been established for at least three years. These companies need to float a minimum of 25 percent of their shares to the public and be owned by at least 50 shareholders.
2- A Junior Market for companies whose capital is equivalent to at least $1 million in Lebanese pounds, with a minimum of 25 percent of their shares in the hands of the public, including at least 50 shareholders.
3- An Unlisted / Over the Counter Market for companies with a capital equivalent to at least $100,000 in Lebanese pounds.
The clearing operations are regulated by Midclear s.a.l.— a Lebanese company owned mostly by the Central Bank of Lebanon, that performs the clearing/settlements for all BSE operations. Midclear also acts as central depository institution for all securities.
© 1969 Mena Report (www.menareport.com)