I got a headache last night trying to figure something out. I looked at the TASE website and if I read things correctly it said the it said the market cap is 94,643,000 NIS http://www.tase.co.il/TASEEng/General/Company/companyMainData.htm?subDataType=0&companyID=001272 Thats based on a share price of 33.80 and 273,379,902 shares outstanding but if I do the math it 33.8 x 94.6M it comes off by a factor of roughly 10 (924,024,0687.6). Can someone help me understand what I'm missing?
If I look at the ADR being a 50-a ratio that would mean roughly 5.5M shares (in US ADR terms) at a price of roughly 5 would be a market cap of 27.5M.
If I then use an exchange of 3.75 Shekel to a dollars its roughly 100M shekel which is roughly consistent to what the TASE website shows.
Appreciate any clarifications anyone can give. TIA!
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