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when ADR/ADS stock has non 1:1 ratio with common
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when ADR/ADS stock has non 1:1 ratio with common 3 months, 1 week ago #1858

  • yonil
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Hi,

There are cases an ADR/ADS stock is not in 1:1 ratio with the common stock.
For example Danone common stock is EPN:BN and its ADR is OTC:DANOY and each ADR stock represents 1/5 of common stock. (the price of the common stock is about 60 EUR and the price of the ADR is about 12 USD)
I see "Conversion Factor to Common for Security Shares" is 1 for both of these stocks.
What field has this conversion factor data?

Thanks.
Yoni

Re: when ADR/ADS stock has non 1:1 ratio with common 3 months, 1 week ago #1861

  • admin
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Yonil,

Reuters treats ADRs as an entirely separate share class, rather than a cross-listing. If you know both of the symbols, you can take the ratio of Total Shares Outstanding between the two listings. This may not work all of the time, but it is the best proxy I know of for determining the relative weight/conversion factor of the shares.
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