The Taiwan Monthly

Listed Companies and Initial Public Offerings

Market Capitalization for listing on Taiwan Innovation Board is reduced to NTD 1 billion with other changes

To create a financing environment suitable for asset-light startups, the TWSE has assessed regional market criteria and has thus lowered the market capitalization ("market cap") for TIB listing from  NTD 1.5 billion to  NTD 1 billion. Requirements for operating revenues changed from NTD 150 million, and were adjusted to NTD 100 million as evaluated in the last quarters.

 

In order to avoid the restriction of relisting conditions and affect the willingness of innovative companies to apply as a listed or a primary listed company, the TWSE shortened the application time requirement from two years to one year for a TIB listed company or a TIB primary listed company; it may apply to the TWSE for being relisted as a listed company or a primary listed company. 

 

The first time a public company applies to list its stock on TIB, it shall appoint an underwriter. The TWSE rule is that the minimum number of underwritten shares shall not be less than 3 million shares for public sale. Past regulations required that underwriters' services were only for the TIB listing period; this is now changed to three fiscal years to assist with compliance matters and diversity underwriting risk.

 

For further information, please contact Ms. Chen at 1093@twse.com.tw.