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An issuing company applying for the listing of its stock shall, after its Agreement for Listing has taken effect, offer its stock to the public in accordance with the provisions of the preceding article. In case the stock applied for listing have not been listed within 3 months after the date of the aforesaid notice given by the TWSE, the TWSE shall after cancel the said Agreement for Listing, and report to the Competent Authority for recordation. However, if an application for extension is filed by the issuing company with adequate cause, the said deadline may be extended for 3 additional months after such application has been approved by the TWSE, provided that such extension shall be limited to one only, and the extension shall be reported to the Competent Authority for Recordation.
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