To encourage TWSE-listed and Taipei Exchange (TPEx) listed companies to reclassify as Taiwan Innovation Board (TIB) companies, Taiwan’s Financial Supervisory Commission (FSC) has amended the relevant provisions of the “Regulations Governing the Offering and Issuance of Securities by Securities Issuers.” The core points are as follows:   

1. Relaxation of Capital Increase Restrictions for Transferring to the Taiwan Innovation Board: 

The “Taiwan Innovation Board” is a specialized board established specifically for startups with core technologies or innovative business models. Article 8 of the newly amended “Regulations Governing the Offering and Issuance of Securities by Securities Issuers” stipulates that ordinary TWSE-listed or TPEx-listed companies applying for reclassification to the TIB may be exempt from the previously strictly reviewed requirements regarding the “necessity of the plan” and “restrictions on substantial idle funds.” 

2. Acceleration of the Registration Effective Process (Shortened to 7 Business Days) 

In conjunction with the aforementioned amendment to the board transfer regulations, for main board TWSE/TPEx listed companies applying for reclassification to the TIB that conduct a cash capital increase and issue new shares to meet the share ownership dispersion standards, the registration effective period shall be seven business days. 

It is advised that enterprises planning to conduct an IPO in Taiwan, planning to transfer boards, or currently re-evaluating the financial strategies of their Taiwanese subsidiaries should continue to closely monitor the subsequent developments of specific practical operations.