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Article 4
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Where an issuing company applying for the listing of its stock meets the criteria listed below, this Corporation will agree to list its stock:
1. Duration of corporate existence: It shall have been incorporated and registered under the Company Act for at least three years at the time of the application for listing; provided, this restriction shall not apply to public (state-owned) enterprises or to privatized public enterprises.
2. Amount of capital stock: The amount of its paid-in capital shall be NT$600 million or more at the time when it applies for listing.
3. Profitability: The operating profit and before-tax net profit in its own financial statements and the consolidated financial statements prepared in accordance with the Statements of Financial Accounting Standards No. 7 meet one of the following criteria, and it does not have any accumulated loss in the most recent fiscal year:
(1) Each of the operating profit and before-tax net profit for the most recent two fiscal years represents 6 percent or greater of the share capital stated on the financial report for the annual final accounts, or the average operating profit and before-tax net profit for the most recent two (2) fiscal years represent 6 percent or greater [of the amount of paid-in capital in its final accounts] and the profitability for the most recent fiscal year is greater than that for the immediately preceding fiscal year; or
(2) Each of the operating profit and before-tax net profit for the most recent five (5) years represents 3 percent or greater of the share capital stated on the financial report for the annual final accounts.
4. Dispersion of shareholdings: The number of holders of registered share certificates shall be 1,000 or more. Among them, the number of shareholders of a company limited by shares holding 1,000 shares to 50,000 shares shall not be less than 500, and the total number of shares they hold shall be 20 percent or greater of the total issued shares, or at least 10 million.
For the profitability in the consolidated financial statements referred to in subparagraph 3 of the preceding paragraph, the influence of net profit (loss) of minority equity on it shall not be taken into account.
A state-owned enterprise applying for listing of its stock shall have its financial report for the most recent fiscal year audited and attested by a certified public accountant, and shall prepare it in the form of a two-year comparative report. For other fiscal years if the stock was not yet publicly issued, the audit report issued by the auditing agency may be used instead.
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Article 5
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Where the central authority in charge of the enterprise concerned has issued an unequivocal opinion certifying that the issuing company applying for the listing of its stock is a technology-based enterprise and the said issuing company meets the criteria listed below, this Corporation will agree to list its stock:
1. Its paid-in capital is NT$300 million or more at the time when it applies for listing.
2. It has successfully developed a product or a technology with market potential, and the company has obtained an appraisal opinion from the central authority in charge of the enterprise concerned.
3. It is recommended in writing by the securities underwriter.
4. Its net worth in both its most recent financial report and in its financial report for the most recent fiscal year represents two-thirds or greater of the share capital stated on the financial report.
5. The number of holders of registered share certificates shall be 1,000 or more. Among them, the number of shareholders holding 1,000 shares to 50,000 shares shall not be less than 500.
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Article 7
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The fact that the company applying for listing meets the criteria set forth in subparagraph 3 of Paragraph 1 of Article 4 and subparagraph 4 of Article 5 of these Regulations shall be substantiated by the financial statements which have been duly audited and certified or reviewed by two or more certified public accountants of an accounting firm; provided that for a stated-owned enterprise, the financial statements (in the form of two-year comparison table) for the most recent year shall be audited and certified by certified public accountants, and if in the other year, the securities have not been publicly issued, the financial statements audited by the auditing agency may be used instead.
The amount of capital referred to in Article 4, paragraph 1, subparagraph 2, Article 5, subparagraph 1, Article 6, subparagraph 2, and Article 6-1, subparagraph 2, of these Regulations shall be the amount shown on the certifying documents following registration (or amendment registration). However shares of privately placed securities that have not been publicly issued shall not be counted in the calculation of the aforesaid amount of capital.
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