I don't know in detail but after doing some reading this morning...

I don't know in detail but after doing some reading this morning I discovered a few cases where companies have listed on ASX with a goal of eventually listing on NASDAQ at a later date.

Here's a snippet of the information I was reading which contains a few examples.


Prelude to a Nasdaq listing?
If a listing on a major US market, such as the Nasdaq, is a future goal for a US issuer, an existing listing on ASX poses no hindrance to entry into the US markets. HeartWare International, Inc. successfully listed on Nasdaq in early 2009, as did Unilife Corporation in 2010, and Sunshine Heart, Inc. is currently looking to list on the Nasdaq early next year. Each of these companies started
their ‘public life’ on the ASX.
Although foreign companies typically cannot trade their shares electronically on ASX, but must rather issue CHESS Depositary Interests (CDIs) representing the underlying shares – the flexibility of having CDIs trade on ASX can actually assist US issuers to meet the criteria for a listing on Nasdaq. Specifically, Nasdaq has a minimum listing price of US$4.00 per share, however CDIs can trade at an exchange ratio to shares of the issuer’s choosing. For example, Heartware adopted a CDI to share ratio of 35:1 whereas Unilife Corporation adopted a 6:1 ratio. This also means that US issuers can maintain a trading price on ASX that is customary for biotechnology stocks, whilst trading its shares at a higher price on Nasdaq.

If you wish to read the source information here is the link: https://www.corrs.com.au/thinking/corrs-ecm-newsletter-bb/asx-an-effective-prelude-to-nasdaq/

It does seem like an involved process but not impossible.