Listed Companies > Listing Requirements and Procedures > TPEx Emerging Stock Board

To assist issuers to be familiar with related laws and regulations of the securities market, to raise public attention, and to provide liquidity and price discovery mechanism before stock listing on TWSE’s or TPEx’s General Stock Board, domestic companies and foreign companies not listed on other exchanges can register on ESB (Emerging Stock Board) after their application for public issuance. The requirements and procedures are as follows:

  1. Main Registration Requirements (For Detailed requirements please refer to The guidelines of ESB and GSB for foreign enterprises )
    Advisory period
    The lead Recommending Securities Firm (RSF) shall have submitted the “Financial or Operational Material Event Checklist” of the registrant for the most recent 1 month after filing for public issuance.
    Recommending Securities Firms
    The registrant shall have received written recommendations by 2 or more RSFs, one of which is designated as the lead RSF, and the others as co-RSF.
    Underwriting Rules
    At least 3% of the total number of shares issued, and at least 500,000 shares in any case, shall be subscribed in aggregate by the RSFs for their own accounts.
    Shareholder services provider
    The registrant shall appoint a professional shareholder services agent to handle shareholder services.
  2. Registration Procedures

Related laws and information (domestic enterprises):

Taipei Exchange Rules Governing the Review of Emerging Stocks for Trading on the TPEx


Related laws and information (foreign enterprises):

Taipei Exchange Rules Governing the Review of Emerging Stocks for Trading on the TPEx

The guidelines of ESB and GSB for foreign enterprises

Foreign Issuer’s Information