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ADR Daily Report (Yahoo Finance) | The Market Mavens Report: Global Markets
| Issue | CUSIP | Exchange | Symbol | Ratio* | Industry | |
| BORSODCHEM RT 144A | 100064104 | 144A | BSRTYP | 1: | 1 | RUB |
| FOTEX RT | 350374104 | OTC | FOTXY | 1: | 5 | OTH |
| GEDEON RICHTER 144A | 368467106 | 144A | CWGRYP | 1: | 1 | DRU |
| MATAV RT | 559776109 | NYSE | MTA | 1: | 5 | TEL |
| MOL MAGYAR OLAJ-ES GAZIPARI RT. 144A | 608464103 | 144A | MOLMYP | 1: | 1 | OGS |
| NORTH AMERICAN BUS INDUSTRIES Rt. | 656761103 | OTC | NABHY | 1: | 1 | TRN |
| OTP BANK LTD. 144A GDR | 67106E101 | 144A | NSVCYP | 1: | 1 | BKS |
| PANNONPLAST RT. | 698504107 | OTC | PNPSY | 4: | 1 | PLA |
| PICK SZEGED 144A (INTERIM) | 719571200 | 144A | PSZGXP | 5: | 1 | FOD |
| PICK SZEGED RT. GDR | 719571101 | 144A | PSZGYP | 1: | 1 | FOD |
| TISZAI VEGYI KOMBINAT RT. (TVK) 144A | 888261104 | 144A | TZVKYP | 1: | 1 | CHM |
| ZALAKERAMIA RT. 144A | 988856100 | 144A | ZALAYP | 5: | 1 | CER |
| * 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. |