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28-9
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The TWSE will approve the application for primary listing of a foreign issuer's stock only after the following persons place in centralized custody in a central securities depository established with the approval of the Competent Authority the stocks comprising their respective individual shareholdings in full as recorded in the listing application documentation and whose sum total is not lower than the percentage specified by the TWSE minus the number of shares provided for public sale upon listing, provided that if the number of shares submitted is insufficient to meet the required percentage, the foreign issuer shall coordinate other shareholders to make up the shortfall.
- If the foreign issuer applies for TWSE primary listing pursuant to Article 28-1, paragraph 1, 5 or 6, its directors, and shareholders holding more than 10 percent of the total number of shares.
- If the foreign issuer applies for TWSE primary listing pursuant to Article 28-1, paragraph 2, its persons required to deposit their shares into central custody are described as the following items, provided that this requirement shall not apply to a recommending securities firm that holds 5 percent or more of the issuer's total issued shares as a result of subscription or trading, during the emerging stock registration period, of securities held for operations:
- in case of a cultural and creative enterprise, its directors, shareholders holding more than 5 percent of the total number of shares, and shareholders providing patent rights or technical know-how as capital contribution and holding a position in the company and also holding 0.5 percent or more, or at least 100,000 shares, of the total issued shares of the company at the time of the listing application, provided that this requirement shall not apply to a recommending securities firm holds 5 percent or more of the issuer's total issued shares as a result of subscription or trading, during the emerging stock registration period, of securities held for operations.
- in case of a technology-based enterprise, its president, research and development supervisor, and all such persons described in the above item.
The provisions of Article 10, paragraphs 2, 3, 4, and 6 shall apply mutatis mutandis to the allocation percentage, centralized custody period, withdrawal method, disposal of stocks in centralized custody, and the effect of custody, provided the centralized custody period of a technology enterprise applying for primary listing pursuant to Article 28-1, paragraph 2 and of an issuer applying for primary listing pursuant to Article 28-1, paragraph 5 or 6 is governed by the proviso of Article 10, paragraph 4 mutatis mutandis.
A TPEx primary listed company applying for TWSE primary listing shall carry out centralized custody of stocks by mutatis mutandis application of Article 10-2.
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