The Taiwan Monthly

May 2021

Listed Companies and Initial Public Offerings

TWSE welcomed Taiwan's first Taiwan Innovation Board ("TIB") application on April 12, 2021.

The TWSE released the regulations for the Taiwan Innovation Board ("TIB") on March 31, 2021, and both domestic and foreign issuers are welcome to file IPO application. TIB welcomes issuers owning key innovative business model and high valuation in terms of market capitalization to apply for listing on this new board. Considering innovative startups usually have limited capital or incurred losses, TIB applies market-cap thresholds as listing requirements rather than paid-in capital. Revenue and earning requirements are also eased.

Lin BioScience, Inc.(code: 6696) submitted the first TIB listing application on April 12,2021. It is a new drug research and development company and its application meets the following criteria: market capitalization no less than $3 billion, submit proof of sufficient working capital (125% for 12 months after listing) and its core products have passed Phase I of clinical trials.

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