This did not materialize, but both said that it will happen within weeks. Moreover, investors are closely watching local progress with respect to privatizing state-owned assets, which is expected to bring in cash to help control the public debt. 133,271 shares were seen trading on the BSE last week. Solidere shares accounted for 40% of the volume, while BLOM Bank and Bank of Beirut shares comprised 44% and 16% of total volume respectively. Solidere"A" and t heir "B" count erpart finished t he w eek unchanged at $4. 125 and $4. 625 respect ively. Bank of Beirut shares t raded wit h a volume of 20, 000 s hares, also closing unchanged at $7. 8125, w hile the BLOM Bank shares w ere t he only movers on t he ex change, rising 2. 24% to end at $17.125.
The Market Capitalization was nearly unchanged at $1.212 billion, up from $1.210 billion. Lebanon is placi ng it s effort s on privat izing st at e-ow ned assets, w hich should bring cash revenues t o t he government t o help it cont rol its mount ing public debt . The government w ill invit e bids t o privat ize two mobile t elecom netw orks wit hin days. It is also ex pect ed t o begin privat ising Liban Telecom, a new public company w orking on fix ed lines and a t hird cellular operat or, towards the end of next year. On a more global level, Lebanese GDRs are down 0. 85% as indicat ed by t he LI TSI index, w hile Arab GDRs were slight ly lower, dropping 0. 26% as invest ors sit on t he sidelines, w hile t hey monit or geopolit ical progress in t he Middle East .