i.e
the company has market cap of 100M
20% of the shares (20M) traded in ASX, means SP = 5$
10% of the shares (10M) traded in NASDAQ, means SP = 10$
The different between the SP in both exchanges reflect the market cap of the company.
If the SP in NASDAQ will increase, the SP in ASX will close the gap in order to prevent an arbitrage (and the opposite).
Therefore, It does not matter the SP between the exchanges, but the market cap it reflects.
Hope I made it clear
Best,
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