Kitov Pharmaceuticals Hldgs L Sponsored ADR (KTOV)

[royzim]

So maybe someone can help me out here -- as I write this, Kitov shares on the Tel Aviv exchange are selling for 129.3 ILS (Israeli New Shekels), up over 12%. You can find that quote here: http://www.bloomberg.com/quote/KTOV:IT

One ILS can be exchanged for .2641 US Dollars, so 129.3 x .26 = $34.15 per Israeli share! Obviously, not correct. But wait, there's more -- each ADS that we trade here is a bundle of 20 Israeli shares, so 20 x $34.15 = $683, again, obviously not correct.

The math is pretty simple, so I don't think I screwed that up. Could it be that the quote should be 1.293 ILS? If so, that would put our KTOV at $6.83/US share.

Can anyone straighten me out?