On Nov. 26, TAI EXC relaxed rules for Taiwan Innovation Board.
TAI EXC approved the removal of the qualified investor restriction and other measures on the Taiwan Innovation Board (TIB), to strengthen Taiwan's capital market.
Follows TAI EXC Aug. 2023 revised regulations for Taiwan Innovation Board, #182688.
Amendments
Removes restrictions on qualified investors and adopts a general board trading system.
Stocks listed on TIB are allowed to trade on credit, borrowing, and intraday odd lots.
Natural persons must sign a risk disclosure before buying stocks for the first time.
TAI EXC will rely on external experts to review the innovativeness of the applicant firm.
Those who proposed public offering of over 10% of the total shares, and meet relevant standards when applying for re-listing, need not conduct a public offering again.
A number of listing review and supervision measures have also been improved.
Including raising the resolution threshold for the TIB listing review committee to needing approval of more than two-thirds of the review committee members present.
The proportion of shares concentrated in group companies or related parties not belonging to group companies will not be allowed to exceed 70%.
Next Steps
The amendments involving relevant provisions of the business rules and listing review standards have been approved by the board of directors on Nov. 26, 2024.
The remaining relevant amended regulations will be announced together with the approval of the competent authorities; expected to be implemented in early Jan. 2025.
Dec. 2024 Amendments Approved
On Dec. 17, 2024, TAI EXC said the amendments have been approved by the competent authorities on Dec. 16, 2024 and will be effective from Jan. 6, 2025.
