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1     Public companies (except technology-based companies) applying for initial public offering whose registered shareholders number is less than one thousand, or the number of shareholders holding between one thousand and fifty thousand shares is less than five hundred, or the aggregate percentage of their shareholding is less than twenty percent of the total issued and outstanding shares or their aggregate shareholding is less than ten million shares, shall comply with the following rules and consign a portion of its shares to securities underwriters for underwriting:
  1. Where the listed capital is two billion New Taiwan Dollars or less, twenty percent or more of its shares shall be provided for public sale.
  2. Where the listed capital is more than one billion but two billion New Taiwan Dollars or less, for the first billion dollars, twenty percent or more of its shares shall be provided for public sale, and for the amount over one billion dollars, fifteen percent or more shall be provided for public sale.
  3. Where the listed capital is more than two billion but five billion New Taiwan Dollars or less, for the first billion dollars, twenty percent or more of its shares shall be provided for public sale, and for the next billion dollars, fifteen percent or more of its shares shall be provided for public sale, and for the amount over two billion dollars, ten percent or more shall be provided for public sale.
  4. Where the listed capital is more than five billion but ten billion New Taiwan Dollars or less, for the first billion dollars, twenty percent or more of its shares shall be provided for public sale, and for the next billion dollars, fifteen percent or more of its shares shall be provided for public sale, and for the amount between two and five billion dollars, ten percent or more shall be provided for public sale, and for the amount over five billion dollars, five percent or more shall be provided for public sale.
  5. Where the listed capital is more than ten billion New Taiwan Dollars, for the first billion dollars, twenty percent or more of its shares shall be provided for public sale, and for the next billion dollars, fifteen percent or more of its shares shall be provided for public sale, and for the amount between two and five billion dollars, ten percent or more shall be provided for public sale, and for the amount between five and ten billion dollars, five percent or more shall be provided for public sale, and for the amount over ten billion dollars, two percent or more shall be provided for public sale.
2     Public companies (except technology-based companies) applying for initial public offering whose registered shareholders number is one thousand or more, and the number of shareholders holding between one thousand and fifty thousand shares is five hundred or more, and the aggregate percentage of their shareholding is more than twenty percent of the total issued and outstanding shares or their aggregate shareholding is ten million shares or more, shall consign shares representing ten percent of its listing capital to securities underwriters for underwriting; provided that the total number of such shares do not exceed twenty million shares or the number of shares calculated using the method specified in the preceding Article.