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Currency Converter USD-NZD
ADR Daily Report (Yahoo Finance) | The Market Mavens Report: Global Markets
|BRIERLEY INVESTMENT LTD.||109014308||OTC||BYINY||1:||20||MUL|
|EVERGREEN FORESTS LIMITED||30023Q102||OTC||EFL||1:||20||PAP|
|FLETCHER CHALLENGE LIMITED ENERGY||339318107||NYSE||FEG||1:||10||PAP|
|FLETCHER CHALLENGE LTD. "FORESTS DIV."||339324402||NYSE||FFS||1:||10||PAP|
|FLETCHER CHALLENGE LTD. BUILDING||339317109||NYSE||FLB||1:||10||OTH|
|FLETCHER CHALLENGE LTD. PAPER||339325102||NYSE||FLP||1:||10||PAP|
|SKY NETWORK TELEVISION LTD.||83080U102||NAS||NZSKY||1:||10||TEL|
|TELECOM CORPORATION OF NEW ZEALAND LTD||879278307||NYSE||NZTPP||1:||8||TEL|
|TELECOM CORPORATION OF NEW ZEALAND LTD.||879278208||NYSE||NZT||1:||8||TEL|
|TRANZ RAIL HOLDINGS LIMITED||894116102||NAS||TNZRY||1:||3||TRN|
|* Ratio: You'll probably notice a significant difference in price
of the stock, traded as an ADR and on its home exchange. You can easily
calculate an over- or undervaluation (and, of course, a fair valuation). All
you need is the ratio of ADR to stock, as listed in the table above, and the
exchange rate of the US-Dollar to this country's currency. The following,
generalized example explains how to calculate.
On June 26, 1998, the Swiss ADR Sulzer Medica, with a ratio of 10:1, was priced USD 24 7/8. In Zurich, its home exchange, Sulzer traded at 379 Swiss Francs. The Dollar/Franc - Exchange rate was 1.526 (1 Dollar buys 1.526 Swiss Francs). Now we can calculate: Multiply the price in Dollar with the ratio (10): 24 7/8 x 10=USD 248.75. With other words, ten ADR's equal one share of Sulzer Medica and will cost you $248.75 (excluding transaction costs). Now you multiply this Dollar-amount with the exchange rate: $248.75 x 1.526=SFR 379.59. The ADR has been valued fair.
The Bank of New York offers free software, which does all the calculation.