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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Rules Governing Review of Securities Listings  CH

Amended Date: 2020.03.30 (Articles 8, 14, 21, 28-3, 28-12 amended,English version coming soon)
Current English version amended on 2018.07.09 
Categories: Primary Market > Review
Article 21     Stock warrant certificates and certificates of entitlement to new shares issued by a listed company may be listed on the TWSE only after a listing application with the TWSE is submitted within 15 days after the filing for effective registration of a capital increase with the Competent Authority; its certificates of payment for shares may be listed on the TWSE only after a listing application for such certificates is submitted to the TWSE within 15 days after the filing for effective registration of the capital increase with the Competent Authority and the share subscription proceeds are collected in full.
    In the case where a listed company issues securities with detachable warrants, it shall, upon effective registration with the Competent Authority, apply to the TWSE for listing of the detached company warrants, and such warrants may be listed and traded on the TWSE market only when the total number of warrants specified in the application for listing and trading is five million units or more and they are offered for sale to the public, and also upon satisfaction of either of the following share ownership dispersion standards, provided that in the case of preferred shares with detachable warrants that fail to meet the listing conditions for preferred shares as specified in Article 14, paragraph 2 or that otherwise fall under the circumstance specified in the proviso of the same paragraph of the same article, the detached company warrants may not be listed:
  1. If the total number of stock subscription options is less than 20 million units, the number of holders of the warrants shall be 50 persons or more.
  2. If the total number of stock subscription options is 20 million units or more, the number of holders of the warrants shall be 100 persons or more.