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7
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The circumstance referred to in Point 2, paragraph 1, subparagraph 6 shall be assessed by the following specific determination standards:
- Timeframe of assessment:
Changes during the 90 business days preceding the assessment date ("the Timeframe") are the basis for calculation.
- Sampled range:
With the exception of Taipei Exchange (TPEx) listed managed stocks and stocks registered on the Emerging Stock Board, all TPEx listed common stock shares and exchange-traded fund beneficial certificates are the sampled securities.
- Determination standards:
- Excessively intense price volatility is defined as any one of the following. If there are no securities of industry peers listed on the TPEx, comparisons may be made to securities of industry peers listed on the TWSE. If there are no securities of industry peers listed on the TWSE, the industry peer assessment standard shall be deemed inapplicable to the company under assessment:
- The daily price movement (absolute value) of the security averaged over the Timeframe reaches the daily movement of the sampled securities averaged over the same period plus two or more standard deviations, and exceeds 150% of the daily movement of securities of industry peers averaged over the same period.
- The spread-to-average ratio (the ratio of the difference between the highest and the lowest price over the Timeframe to the average price for the Timeframe) of the security reaches the spread-to-average ratio of each sampled security for the same period plus two or more standard deviations, and exceeds 150% of the spread-to-average ratio of the securities of industry peers for the same period.
- Any other circumstances that may be deemed excessively intense price volatility.
- Excessively irregular change in trade volume is defined as any one of the following:
- The turnover rate of the security is 10 or more times the average turnover rate for the sampled securities over the Timeframe.
- The turnover rate of the security is less than 10% of the average turnover rate of the sampled securities over the Timeframe, and its total trade volume during the Timeframe is less than 3,000 round lots.
- Any other circumstances that may be deemed excessively irregular trade volume.
- Excessively concentrated equity ownership of TPEx listed securities is defined as any one of the following:
- The number of registered shareholders is less than 1,000.
- The number of shareholders holding 1,000 to 50,000 shares is less than 500.
- The registered shares held by all the company's directors, supervisors, managerial officers, and major shareholders (those with more than 10% shareholding) account for a combined total of 75% of the company’s listed shares if the company has 50 million or fewer issued shares; or 80% if the company has more than 50 million up to 500 million issued shares; or 85% if the company has more than 500 million issued shares.
- Any other circumstances that may be deemed excessively concentrated equity ownership.
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