Need help with American Depositary/currency issue

[tede02]

This is specific to Naspers Limited which is South African based.  I must be missing something.  As I see it, the common is trading for 291,000 in home currency (ZAR).  The currency conversion to USD is currently $0.075. 

 

Thus, the conversion gets me to share price of $21,952.35. 

 

However, the ADRs are trading at $23.35 with a 10:1 ratio.  But that translates into a $233.50 share price which is off by nearly a factor of ten (actually 100).  What am I missing here?  Is there another share class that the ADRs are being based off? 

 

Any insight would be greatly appreciated.  (Probably a stupid question with the answer looking me in the face.)

 

[LC]

is it because 291,000 = 291.00 (comma used as decimal)?

[oddballstocks]

is it because 291,000 = 291.00 (comma used as decimal)?

 

That's my guess, most of the world uses a comma instead of a decimal whereas in the US we use a decimal and not a comma.

[KCLarkin]

UK stocks trade in pence not pounds. Perhaps something similar here?

[Hielko]

Yes, stock trades in ZAC, not ZAR

[tede02]

Thanks Hielko.  I guess ZAC is equivalent to US cents. Thus, the stock is trading at 2,991 ZAR which brings the conversion in line.  Thanks guys.