CROSS-LISTED SECURITIES
Cross listing of shares is when a firm lists its equity shares on one or more foreign stock exchange in addition to its domestic exchange. Many companies cross-list, in which the stock is technically fungible between exchanges. Prices are subject to local market conditions, as well as FX fluctuations and are not kept in perfect parity between markets. Generally such a company's primary listing is on a stock exchange in its country of incorporation, and its secondary listing(s) is/are on an exchange in another country. Cross-listing is especially common for companies that started out in a small market but grew into a larger market.
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