Libya set to IPO on of two state mobile operators in 2014 and offer third licence

The Libyan government says that it plans to list one of its two state-owned mobile networks on the stock market next year.

The government-owned Libyan Post, Telecommunication and Information Technology Co (LPTIC) owns the country’s two mobile operators Al Madar and Libyana.

Libyana has a market share of around 70 per cent, and is seen as the most likely candidate for listing on the Tripoli stock exchange around the second quarter of next year.

"This is a company we want to do an IPO for hopefully next year," Faisal Gergarb, LPTIC chairman told the Reuters news agency.

The government has already announced plans to issue a tender for a third mobile operator licence to a foreign investor to shake up the market.