Invest AD, an Abu Dhabi financial services company, has announced plans to establish a fund that will invest in Libya's stockmarket, participate in initial public offerings (IPOs) and take pre-IPO stakes in Libyan companies. Libya's stockmarket was opened in 2007 and currently hosts 25 listed companies, with up to ten IPOs planned in the next year. Invest AD has a reputation for taking strong positions in frontier markets, most notably in Iraq and parts of Africa. It did not disclose the size of its fund.