| Title： |
Taiwan Stock Exchange Corporation Procedures for Review of Securities Listings(2010.11.19) |
| Date： |
|
|
Article 4
|
For initial stock listing applications, after receiving the application and supporting documents, the administering department shall form a task force consisting of two or more persons (depending on the overall current status of the human resources of the department) to assess each application with the approval of the Listing Department manager. For applications by already-listed companies for issuance of new shares for capital increase, or for corporate bonds or other securities listings, the administering department shall designate a person to handle such applications. After being delegated the case, the designated person shall acknowledge receipt by signing the administering department's in-out log. In addition to keeping the application and supporting documents in safe custody, for initial stock listing applications, the designated person shall also submit one copy each of the prospectus and the draft underwriter assessment report to the Research and Development Department of the TWSE for public display.
After accepting the application for processing, the managing department shall retain an outside reviewer with field-specific expertise to give a consulting opinion on the matters provided in the Table of Consultation Matters. If questions arise relating to financial, accounting, or legal matters, the case-handling unit may also retain outside financial, accounting, and/or legal professionals to give a written opinion. Solicitation of written opinions shall be handled in accordance with the TWSE "Rules for Solicitation of Opinions in Reviews of Initial Applications for OTC Listing by Public Companies." The aforesaid Rules will be separately adopted. The above regulations in regard to outside reviewers shall not apply to cases that, pursuant to Article 7-1, are exempt from review by the Review Committee. A transferee company of a demerger as referred to in Articles 53-21 and 53-24 of the TWSE Operating Rules, when applying for stock listing, may be exempt from the above provisions regarding solicitation of opinions.
The consulting opinions of the outside reviewers referred to in the preceding paragraph shall be delivered to the TWSE 15 days before the Review Committee meets.
|
|
Article 11
|
After examining all documents duly submitted by the applicant company to ensure completeness, the case handlers shall first complete a "New Stock Listing Preliminary Review Chart." After examining whether Article 14, Paragraph 2 of the TWSE's Regulations for Review of Securities Listings and Article 53-4 of the TWSE's Operating Rules are applicable to the applicant company and whether the number of shares that the applicant company undertakes to have underwritten is in compliance with the percentage requirements of the competent authority. (Applicants in compliance with the conditions in Article 11 of the TWSE's Regulations for Review of Securities Listings may be exempted from further underwriting requirements.) After obtaining signed approval from their superiors, the case handlers shall report to the competent authority seeking approval and publicly announce the listing upon the approval of the competent authority.
|