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Article 3
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The daily price fluctuation limits on initial listings of certificates of entitlement to new shares shall be determined with reference to the closing price of the old shares (common shares available in the market) on the previous business day minus the value difference on rights; provided where the difference on rights cannot be determined, the price fluctuation limit shall be determined with reference to the closing price of the old shares on the previous business day. Where there is no closing price for the old shares on the previous business day, the price determined according to the principle set out in Article 58-3, paragraph 2, subparagraph 2 of the Operating Rules of the TWSE shall be used.
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