|Required advisory / trading period||The issuer’s stock shall have been traded on the ESB for more than 6 months. For foreign companies, the issuer’s lead RSF shall have filed the advisory progress for more than 6 months or the issuer’s stock shall have traded on the ESB for more than 6 months.|
|Duration of Corporate Existence (Note 1)||The issuer shall have been incorporated and registered under the Company Act for no less than 2 full fiscal years.|
|Company Size||For domestic companies, paid-in capital shall be not less than NT$50 million. For foreign companies, net worth audited or reviewed by a CPA for the most recent period is equivalent to at least NT$100 million.|
|Financial requirements (Meets one of the criteria)(Note 1)||Profitability||The ratio of income before tax (note 2) to shareholders’ equity (note 2) 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:
|Net worth, operating revenue and cash flows from operating activities||Shall meet each of the following requirements:
|Recommending Securities Firms||The registrant shall have received written recommendations by 2 or more Recommending Securities Firms (RSFs), one of which is designated as the lead RSF, and the other(s) as co-RSF(s).|
|Lockup of the shares (Note 2)||The directors, supervisors, and the shareholders holding 10% or more of the issued shares of the registrant shall deposit all their shareholdings in central custody. One half of those shares deposited in central custody may be withdrawn after the lapse of six-month period starting the listing date thereof; the remaining shares may be withdrawn after the lapse of a one-year period starting the listing date thereof.|
|Dispersion of shareholdings||Excluding company insiders and any juristic persons in which such insiders hold more than 50% of the shares, 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, or at least 10 million. (This requirement could be met after the pre-listing capital infusion.)|
|Compensation committee||The registrant shall have a compensation committee in place.|
|Shareholder services provider||The registrant shall engage a professional shareholder services agent in the ROC to handle shareholder services matters.|
Note1: Technology-Based Enterprises or Cultural and Creative Enterprises may be exempted from these requirements. If it is a Technology-Based Enterprise, its net worth shall not be less than two-thirds of the share capital shown in the latest CPA-audited and attested or reviewed financial report. Please refer to Technology Based Enterprises or Cultural and Creative Enterprises Section.
Note2: Otherwise provided for Technology- Based Enterprises, Cultural and Creative Enterprises, and enterprises adopting financial requirements of “Net worth, operating revenue and cash flows from operating activities". Please refer to TPEx related regulation for more detail.
Related laws and information (domestic enterprises):
Related laws and information (foreign enterprises):