FYI....ADRs in Focus:...

FYI....ADRs in Focus: Psivida


http://www.businessweek.com/ap/financialnews/D8TSLG680.htm

ADRs in Focus: Psivida

Australia's Psivida Ltd. helped pull a composite of ADR indices slightly down in afternoon trading Monday as investors closed out 2007 and prepared for the new year.

The Bank of New York Composite ADR Index -- which is composed of multiple regional and geo-economic indices -- lost 0.73 points to 190.59, ending the year up about 14 percent. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

Psivida, a drug delivery company, lost 3 cents, or 3.7 percent, to 79 cents. Last week the Nasdaq Stock Exchange told the company that its shares, which have traded below $1 for the past 30 consecutive days, have until June 24, 2008, to trade above the dollar mark for at least 10 days or they will be delisted.

The Bank of New York Asia ADR Index, of which Psivida is a member, rose 0.26 points to 167.18 and gained about 5.6 percent in 2007. South Korea's Mirae Corp., which makes equipment for the semiconductor industry, led the Asian index Monday by adding 29 cents, or 31.9 percent, to $1.20.

Though it added about 13 percent this year, the Bank of New York Europe ADR Index shed 1.02 points to 190.66 Monday. Germany's GPC Biotech AG led the drop, falling 50 cents, or 12.4 percent, to $3.54. Dutch office supplier Corporate Express NV added 52 cents, or 7.1 percent, to $7.87.

The Bank of New York Emerging Markets ADR Index -- which includes shares of companies based in China, Mexico, Brazil and more -- lost 1.01 points to 377.93, but added about 40 percent on the year. China's WuXi PharmaTech Inc. lost $1.23, or 4 percent, to $29.74 on Monday.

And the Bank of New York's ADR index for Latin American shares lost 1.87 points to 427.91 Monday, but rose about 53 percent for the year. Brazil's Petroleo Brasileiro shed $1.93, or 2 percent, to $96.19, while Uniao de Bancos Brasileiros SA added 43 cents to $139.50.