| Title： |
Supplementary Provisions to the Taiwan Stock Exchange Corporation Rules for Review of Securities Listings(2022.09.21) |
| Date： |
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Article 17-1
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The term "to allocate a percentage" as used in Article 11, paragraph 1 of the Rules shall mean:
- The first time a public company applies to list its stock on the TWSE, it shall allocate to an underwriter for public sale at least 10 percent of the shares it is planning to list, provided that where this would require the allocation of 20 million shares or more for underwriting, the company may allocate a minimum of 20 million shares for public sale.
- Where a public company has traded its stock on the TPEx as emerging stock for less than 2 years, the number of shares it provided for subscription by the recommending securities firm for such emerging stock may be deducted from the number of shares it provides for underwriting hereunder, provided that the deduction shall not exceed 30 percent of the shares provided for underwriting hereunder.
The "percentage" in Article 36 of the Rules may be lower than neither 3% of the total shares to be listed nor 500,000 shares, and is limited to shares of publicly offered and issued common stock, provided where over 3 million shares shall be allocated for underwriting, a minimum of 3 million shares may be allocated for public sale and shall be confined to common shares publicly offered and issued.
Paragraph 1, subparagraph 1 applies to the "percentage" in Article 40 of the Rules mutatis mutandis, provided where a Taiwan Innovation Board listed company or Taiwan Innovation Board primary listed company is listed for less than two years, the number of shares that shall be allocated for public sale may be deducted from the number of shares that have been allocated for underwriting as mentioned in the preceding paragraph, and such deduction may not exceed 30% of the total number of shares that shall be allocated for underwriting.
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Article 31-1
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The phrase "where the TWSE deems it necessary to extend the term of appointment" in Article 34, paragraph 1, subparagraph 2 of the Rules shall mean any of the following:
- The listed securities are placed under an altered trading method by the TWSE in accordance with Article 49-4 of the Operating Rules.
- Trading of the listed securities is suspended by the TWSE in accordance with Article 50 of the Operating Rules.
- A cumulative penalty over NTD 1 million is imposed for violations of the TWSE bylaws during the most recent fiscal year in which the expiration date of the appointment contract falls.
- Other reasons for which the TWSE deems an extension necessary.
An extension of appointment as in the preceding paragraph is limited to an fiscal year in principle. Upon the expiration of the extension, the Taiwan Innovation Board listed company or Taiwan Innovation Board primary listed company may request the TWSE to terminate the continuation of appointment if none of the circumstances in the preceding paragraph applies; if any of such circumstances still applies, the term of appointment shall continue to be extended until the fiscal year in which none of such circumstances applies before the appointment may be terminated.
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