|
Article 17-1
|
The term "to allocate a percentage" as used in Article 11, paragraph 1 of the Rules shall mean:
- The first time a public company applies to list its stock on the TWSE, it shall allocate to an underwriter for public sale at least 10 percent of the shares it is planning to list, provided that where this would require the allocation of 20 million shares or more for underwriting, the company may allocate a minimum of 20 million shares for public sale.
- Where a public company has traded its stock on the TPEx as emerging stock for less than 2 years, the number of shares it provided for subscription by the recommending securities firm for such emerging stock may be deducted from the number of shares it provides for underwriting hereunder, provided that the deduction shall not exceed 30 percent of the shares provided for underwriting hereunder.
The "percentage" in Article 36, paragraph 1 of the Rules may be lower than neither 5% of the total shares to be listed nor 800,000 shares, and is limited to shares of publicly offered and issued common stock, provided where over 5 million shares shall be allocated for underwriting, a minimum of 5 million shares may be allocated for public sale and shall be confined to common shares publicly offered and issued.
Paragraph 1, subparagraph 1 applies to the "percentage" in Article 40, paragraph 2 of the Rules mutatis mutandis. Such percentage may be included in the number of shares for public sale before TIB listing, provided the number of shares that shall be provided for underwriting may not be less than 3% of the total number of shares issued as stated in the application document for relisting. If allocation of more than 6 million shares is required for underwriting, the company may allocate a minimum of 6 million shares for public sale.
|