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Article NO. Content


Taiwan Stock Exchange Corporation Regulations Governing Trading of Depositary Receipts  CH

Amended Date: 2018.12.24 (Articles 9, 12 amended,English version coming soon)
Current English version amended on 2012.06.07 
Categories: Securities Exchange Market > Trading > Other Securities
Article 12     The Operating Rules of the Taiwan Stock Exchange Corporation apply mutatis mutandis to ex-dividend and ex-rights procedures for depositary receipts.
    When there is an additional distribution of a depositary receipt as a result of a split in the underlying security, or a reissuance of a depositary receipt as a result of a reverse stock split in the underlying security, the depository institution shall set a price adjustment date consistent with the rights and obligations of the original underlying security.
    Calculation of the fluctuation limits for the price adjustment date of a depositary receipt shall be based on the previous day's closing price divided by the ratio of the total number of depositary receipt units after the additional distribution or the reissuance to the original number of depositary receipt units.
    If on the price adjustment date there is no closing price for the previous day, the closing price used as the basis for the calculation of the preceding paragraph shall be replaced by the price determined according to the principle set out in Article 58-3, paragraph 2, subparagraph 2 of the TWSE Operating Rules.