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20-2
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An application by a venture capital company for the listing of its stock will be granted if said company meets the conditions set forth in Article 4 and below:
- Its articles of incorporation states the company’s intent of sustainable operations.
- Capital: At the time it applies for listing, its paid-in capital is NT$2 billion or more and the number of shares of its publicly offered and issued common stock is 100 million or more.
- It does not engage in any business other than as stipulated by the Rules Governing Guidance to Venture Capital Enterprises.
- At the time it applies for listing, the number of shares it holds in any public company does not exceed 30 percent of the total issued voting shares of said company.
- At the time it applies for listing, the total investment it holds in any invested company does not exceed 20 percent of the total assets shown in the applicant’s current financial reports.
- Both at the time it applies for listing and as at the date of financial reports in the last two fiscal years, its total investment reaches 60 percent or more of itstotal assets, except where the percentage requirement is met after the adjustments for change in value being a net increase in investment assessed at fair value are deducted from the total assets.
- The procedures for acquiring or disposing of assets shall state the investment transaction conditions, authorized limit, decision-making level, returns alert and take-profitmechanism, investment loss warning and stop-loss mechanism, etc.
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