For domestic companies and foreign companies not listed on other exchanges, TPEx Mainboard listing requirements and procedures are as follows:
Main Listing Requirements (For Detailed requirements please refer toThe guidelines of ESB and Mainboard for foreign enterprises )
Required advisory / trading period
The issuer's stock should be traded on the ESB for more than 6 months, or for foreign issuer, the issuers may choose to have the lead recommending securities firm having conducted listing advisory for at least 6 months.
Duration of Corporate Existence (Note)
The issuer shall have been incorporated and registered in accordance with domestic or foreign laws for at least 2 completed fiscal years.
For domestic companies, paid-in capital should be more than NT$50 million dollars. For foreign companies, total shareholders’ equity is equivalent to at least NT$100 million.
The ratio of income before tax to paid-in capital (shareholders’ equity for foreign companies) shall meet one of the following requirements, and the income before tax of the most recent year shall not be less than NT$4 million:
- Most recent fiscal year: the ratio shall be more than 4%, and there shall be no accumulated deficit.
- The last 2 fiscal years: the ratio shall be more than 3% in each year; or averages 3% over the 2 years and the ratio for the more recent year is better.
Recommending Securities Firms
The issuer shall have received written recommendations from 2 or more Recommending Securities Firms (RSFs).
Lockup of the shares
The directors, supervisors, and the shareholders holding 10% or more of the issued shares of the issuer shall deposit all their shareholdings in central custody.
Dispersion of shareholdings
Excluding company insiders, the number of registered shareholders shall be at least 300, and the total number of shares they hold shall be 20% or greater of the total issued shares.
The issuer shall have a compensation committee in place.
Note：The Technology-Based Enterprises are not subject to these restrictions.
Shareholder Services provider
The issuer shall appoint a professional shareholder services agent to handle shareholder services.
Related laws and information (domestic enterprises):
Taipei Exchange Rules Governing the Review of Securities for Trading on the TPEx
Related laws and information (foreign enterprises):
Taipei Exchange Rules Governing the Review of Foreign Securities for Trading on the TPEx
The guidelines of ESB and Mainboard for foreign enterprisesForeign Issuer’s Information
Foreign Issuer’s Information