|Required advisory / trading period||The issuer’s lead RSF shall have filed the advisory progress for more than 6 months or the issuer’s stock shall have been traded on the ESB for more than 6 months, and the RSF has submitted the “Financial or Operational Material Event Checklist” every month to TPEx since 3 months before applying for listing.|
|Duration of Corporate Existence (Note 1)||The issuer shall have been incorporated and registered in accordance with foreign laws for at least 2 completed fiscal years.|
|Company Size||Net worth (Note 2) 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 moperating 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||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 One half of those shares deposited in central custody may be withdrawn after the lapse of six-month period starting the listing date thereof;the remaining shares may be withdrawn after the lapse of a one-year period starting the listing date thereof (otherwise stipulated for the Technology- Based Enterprises, Cultural and Creative Enterprises, and enterprises adopting financial requirements of “Net worth, operating revenue and cash flows from operating activities”).|
|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.)|
|Shareholder services provider||The registrant shall engage a professional shareholder services agent in the ROC to handle shareholder services matters.|
|Agent for litigious and non-litigious matters||The registrant shall have designated at least a litigious and non-litigious agent with domicile or residence within the territory of the ROC. The agent shall serve as the registrant’s responsible person under the Securities and Exchange Act in the ROC.|
|Stocks in dematerialized form||The stocks and bonds offered and issued (including private placements) shall be in dematerialized form. However, this requirement does not apply if the laws or regulations of its country of registration stipulate otherwise.|
|Commitments||Important matters regarding protection of shareholders which prescribed by the TPEx’s “Checklist for Protecting Shareholders of Foreign Issuers” shall be specified in the company’s articles of incorporation or organizational documents.
The issuer shall continuously engage a lead RSF from the date of listing to the end of the 2 subsequent fiscal years ( for the Technology-based Enterprises, Cultural and Creative Enterprises, and enterprises adopting financial requirements of Net worth, operating revenue and cash flows from operating activities: 3 subsequent fiscal years ) to assist it in compliance with ROC securities laws and related regulations.
|Functional committee||The registrant shall have a compensation committee in place.
An audit committee shall be established in place of supervisors if the total equity attributable to owners of the parent company for the most recent period as audited and attested by CPAs is not less than NT$600 million at the time of application.
|Director||The registrant shall have at least one independent director who is domiciled in the ROC.
The issuer shall take out directors liability insurance.
|Articles of Incorporation||The registrant shall include electronic means to exercise shareholder’s voting rights in its articles of incorporation.|
Note: Please see the “Taipei Exchange Rules Governing the Review of Foreign Securities for Trading on the TPEx” for more details.
Related laws and information (domestic enterprises):
Related laws and information (foreign enterprises):