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ADR Daily Report (Yahoo Finance) | The Market Mavens Report: Global Markets
|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.