On 10 February 2023, TAI TPEX amended supplemental rules governing applications by group enterprises for TPEX listing of stock, to protect rights, interests of shareholders.

• Issuing company should submit a checklist completed by the recommending securities firm when applying for OTC listing, to prevent shell investment holding companies.
• Also made the same changes to rules governing the review of foreign securities for trading on the TPEX, rules governing securities trading on the TPEX, and supplemental directions for applications by investment holding companies for TPEX listing.
• Amendments come into force on the date of announcement.

Background

• TAI EXC amended Taiwan stock exchange corporation rules governing review of securities listings and operating rules of the Taiwan stock exchange corporation.

Securities Listing

• Exclude applicant company which has no denomination or the denomination per share is not NTD 10, net value of the converted shares reached NTD 6bn or more.
• The provision of paragraph 6 of article 1 shall not apply if the parent company of the applicant company is a listed investment holding company.
• If listed investment holding company applies for listing of subsidiary company whose shareholding over 70%, shall conduct pre-listing public offer to reduce below 70%.
• Added exception for venture capital companies applying for stock listing.