A lead underwriter underwriting securities by book building shall first carry out the matters listed in the following subparagraphs. All relevant agreements shall be signed or sealed by the lead underwriter, each co-underwriter, and the issuer (issuing institution), and then reported to the Taiwan Securities Association by the first business day prior to the start of the book building period (or by the second business day in the case of an initial listing on a stock exchange or an OTC market):
- formation of the underwriting syndicate by solicitation of co-underwriters;
- determination of the total quantity of securities to be offered by book building, and the number of units expected to be sold via overallotment;
- estimation of the anticipated offering price range, as determined in consultation with the issuer (issuing institution);
- determination of the firm-commitment fee or best-efforts underwriting fee, as determined in consultation with the issuer (issuing institution);
- determination of the lot size, in the event that the securities will be offered by public subscription.
- the issuer shall provide the securities underwriter with a list of the persons who are disqualified from participating in book building under these Rules.