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1     These Directions are adopted to ensure full disclosure of the financial and business information of any company applying for initial listing of stocks or Taiwan depositary receipts ("Applicant") for reference by investors in making investment decisions.
    For purposes of these Directions, "pre-TPEx-listing performance presentations" include investor conferences, issuance conferences, and any other gatherings where financial or business information about the Applicant is disclosed.
2     Upon receiving the TPEx listing approval letter from the TPEx, an Applicant shall conduct at least one pre-TPEx-listing performance presentation before the recommending securities firm files the book building or competitive auction agreement with the Taiwan Securities Association.
3     The Applicant, 3 business days before a pre-TPEx-listing performance presentation, shall enter the information on the time and place for the presentation into the Internet information filing system designated by the TPEx, and send an invitation in writing or by email to the following entities and the representative appointed by the TPEx to attend, annexing information about the method or principle used in the determination, or calculation method, of the offering price, copies of which shall be available to the attendees at the place of the presentation:
  1. Securities Analysts Association, Chinese Taipei.
  2. Securities & Futures Institute.
  3. Taiwan Securities Association.
  4. All securities investment trust enterprises.
  5. All securities investment consulting enterprises.
  6. All securities dealers.
  7. Other entities deemed required by the TPEx.
4     At the pre-TPEx-listing performance presentation, the Applicant shall fully describe information about the Applicant's industrial development, financial and business status, future risks, corporate governance and social responsibility, key questions raised by the TPEx Securities Listing Review Committee, and supplementary disclosures that the TPEx has requested be included in the prospectus and evaluation report. Reports or discussions shall be limited to the information contained in the Applicant's prospectus and particulars that the TPEx has requested be explained during the presentation, and shall be made by a person who signs the prospectus or by a person authorized thereby.
    The Applicant shall enter in full the information disclosed at the pre-TPEx-listing performance presentation into the Internet information filing system designated by the TPEx after, and on the same day as, the pre-TPEx-listing performance presentation.
    The Applicant shall audio- and video-record the pre-TPEx-listing performance presentation from beginning to end, and upload the audiovisual file to the website of the Applicant after the meeting and before the start of trading hours of the next business day, and include the proper hyperlink to the audiovisual file on the website of the lead advisory recommending securities firm and the Internet information filing system designated by the TPEx.
5     Opinions and explanations regarding the calculation of the offering price given by the attendees at the pre-TPEx-listing performance presentation shall be fully and accurately disclosed in the prospectus.
6     If the Applicant fails to hold a pre-TPEx-listing performance presentation in accordance with these Directions, the Taiwan Securities Association may suspend the underwriting of its shares and the TPEx also may defer the trading of the stocks or Taiwan depositary receipts on the TPEx pursuant to Article 13-2, paragraph 1 of the TPEx Rules Governing Securities Trading on the TPEx.
7     These Directions, and any amendments hereto, shall be publicly announced and enforced from a date to be set after submission to and approval by the competent authority.