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53-12
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The provisions of the preceding article shall also apply in cases where a single or multiple companies limited by shares or a foreign company converts shares into a newly established or existing TWSE listed or TWSE primary listed company; provided that if a company that is neither TWSE listed nor Taipei Exchange listed converts shares together therewith, the said unlisted company, unless a subsidiary of which the TWSE listed or TWSE primary listed company holds at least 90% of the shares, shall conform to the provisions of all the following subparagraphs:
- Profitability shall comply with subparagraph 3 of paragraph 1 of Article 4 of the TWSE Rules Governing Review of Securities Listings, unless the proviso of Article 53-2, paragraph 1, subparagraph 1 is conformed to.
- There shall not exist any circumstance specified in subparagraphs 1, 3, 4, 6, 7, 8, or 12 of paragraph 1 of Article 9 of the TWSE Rules Governing Review of Securities Listing.
- The financial report for the most recent fiscal year shall have been audited by a CPA approved by the Competent Authority to perform auditing and attestation of financial reports of public companies and issued an unqualified opinion from such CPA.
If any company participating in the share conversion is a foreign company, Article 53-2, paragraph 2 shall apply mutatis mutandis.
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