A new listing does not mean new shares were issued. If that is the case we were diluted again. I used to do this for Latin American companies that wanted a listing in the US (ADRs). You don't have to issue new shares for this. And if they are issuing new shares it is obviously not good after they used Sunncomm to issue 120 million new shares in the last 8 months.
Liquidity is the ease at which you can exchange your shares in a timely manner without affecting the price. That is affected by how many buyers and sellers show up at the market. If you take some buyers and sellers and then move them to another market the liquidity is decreased. Because when you go to sell your shares there are less buyer at that market to buy your shares.
Issuing shares doesn't increase liquidity. Liquidity is a function of trading activity and ease. If you issue more shares and the stock trades just as much as before, the liquidity hasn't changed.
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