1 Meso ADR can be exchanged for 5 MSB shares. There may be a...

1 Meso ADR can be exchanged for 5 MSB shares. There may be a small conversion fee, but that 5 times ratio never changes. The only thing that changes is the exchange rate between currencies. People are always asking, does ASX lead NASDAQ or the other way around? That is like asking if morning leads afternoon or the other way around. Just like share price on either market moves around during the day, you will see differences due to the fact that the markets are open at different times. Take a look at Pluristem. There are short periods of time most days when markets in Tel Aviv and the US are both open at the same time. During those times, the prices are walking in lock step because the shares can quickly be exchanged one for the other, just like Chi-X and AUX Mesoblast share prices stay essentially identical, being open at the same time.