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ADR Daily Report (Yahoo Finance) | The Market Mavens Report: Global Markets
| Issue | CUSIP | Exchange | Symbol | Ratio* | Industry | |
| BANCO WIESE LIMITADO | 059651109 | NYSE | BWP | 1: | 4 | BKS |
| CEMENTOS LIMA LEVEL-I | 151263100 | OTC | CEMTY | 1: | 1 | CST |
| COMPANIA DE MINAS BUENAVENTURA "B"SHARES | 204448104 | NYSE | BVN | 1: | 2 | MIN |
| CORPORACION INTERBANC "B" SHARES 144A | 219871100 | 144A | IFNHBYP | 1: | 10 | INV |
| FERREYROS COMMON SHARES 144A | 315296103 | 144A | FRYSYP | 1: | 20 | MAC |
| FERREYROS COMMON SHARES LEVEL-I | 315296202 | OTC | FERXY | 1: | 20 | MAC |
| LUZ DEL SUR S.A. 144A | 550668105 | 144A | LUZS | 1: | 15 | UTI |
| PERU REAL ESTATE S.A. | 715832105 | OTC | PREY | 1: | 25 | RES |
| TELE 2000 COMMON SHARES LEVEL I | 879254209 | OTC | TLNEY | 1: | 5 | TEL |
| TELEFONICA DEL PERU S.A. | 879384105 | NYSE | TDP | 1: | 10 | TEL |
| * 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. |