Tiziana Life Sciences

Why are there 2listing on trade 212 for Tiziana Life Sciences showing different prices

Hi @Fahmed.
I don’t follow this company, however from looking at the two listings on T212 I can see that one is on the LSE AIM and another one is on NASDAQ.
I imagine that the LSE AIM is the primary listing (Main and usually original listing).

The NASDAQ listing is an American Depositary Receipt (ADR) which usually means that every share on there is equivalent to a certain number of shares on the Main Exchange. As far as I understand, this is usual for nonUSA companies that list on USA exchanges such as NASDAQ and NYSE.
Looking at the two prices, I guess that the relationship is something along the lines of 1:2 or slightly below that considering exchange rates.

If you google it, you can find this explanation:

How it works
Tiziana Life Sciences ADRs represent two Tiziana Life Sciences ordinary shares. They are listed on NASDAQ, under the symbol [TLSA].
Our ADRs are administered by our depositary bank J.P. Morgan Chase Bank, N.A. (J.P. Morgan). A depositary bank is a bank in the U.S which oversees all the stock transfer and agency services in connection with a depositary receipt program.
Our ADR program is governed by the deposit agreement filed with the Securities and Exchange Commission (SEC), which is binding upon Tiziana Life Sciences, J.P. Morgan and ADR holders.

So yes, each ADR share on NASDAQ is equal to two shares on the LSE.

I hope this helps :slight_smile:.