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友善列印
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Article NO. Content

Title:

Supplementary Provisions to the Taiwan Stock Exchange Corporation Rules for Review of Securities Listings  CH

Amended Date: 2021.03.31 (Articles 1, 6-2, 17-1, 17-2, 22, 30, 31, 32 amended,English version coming soon)
Current English version amended on 2020.03.02 
Categories: Primary Market > Review
Article 17-2     The phrase "transfers of equity conducted… for purposes of reducing its shareholding ratio in the company applying for listing" as used in Article 9, paragraph 1, subparagraph 11 and Article 28-8, paragraph 1, subparagraph 7 of the Rules means the transfer of equity interests by a TWSE (or TPEx) listed company for the purpose of reducing its shareholding ratio in the applicant company of a demerger, which includes the sale of equity interests and the waiver of pre-emptive rights to new shares in a cash capital increase in favor of subscription by other specific persons.
    The phrase "have damaged shareholders' equity", as used in Article 9, paragraph 1, subparagraph 11 and Article 28-8, paragraph 1, subparagraph 7 of the Rules, and the phrase "detrimental to the rights and interests of the shareholders of the parent" in Article 19, paragraph 2, and Article 28-6, paragraph 2 of the Rules, mean a transfer of equity interests that clearly involves an unreasonable circumstance with respect to the assignee or the trading price of the sale, the issue price of a cash capital increase through a new share issue, or the waiver of pre-emptive rights to new shares in a cash capital increase in favor of subscription by other specific persons, thereby profiting specific persons and creating the likelihood of damage to the rights and interests of the shareholders of the TWSE (or TPEx) listed company.