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FSC Proposes to Allow Domestic Companies to Adopt Shelf Registration for Common Stocks to Enhance Financial Flexibility and Efficiency

    In order to optimize regulations related to capital raising and enhance the efficiency of capital raising in the capital market, the FSC has incorporated "proposing to allow a shelf registration for common stocks " into the promotion projects of the "Capital Market Roadmap" launched on December 8, 2020, and has requested the Taiwan Stock Exchange and the Taipei Exchange to outsource a feasibility study. 
    After analyzing capital raising of domestic companies in recent years and referring to the report, the FSC reaches the conclusion that allowing companies to adopt a shelf registration for common stocks can promote the efficiency of raising capital in the market, and give flexibility in choosing the timing to issue new shares to meet the need of long-term capital investment or R&D period. The FSC is proposing to allow listed companies meeting certain scales and conditions to register proposed total number of new shares within the next two years; after a shelf registration becomes effective, the issuer may issue subsequently within the proposed quota without re-filing, so as to enhance financial flexibility and efficiency.
    The FSC will properly plan a shelf registration and complete the revision of relevant regulations in the fourth quarter of 2021. As well, the FSC will request the Taiwan Stock Exchange, the Taipei Exchange, and the Taiwan Securities Association to cooperate in adjusting their information reporting website and revising self-regulatory rules.

Contact unit:Corporate Finance Division, Securities and Futures Bureau
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Visitor: 278   Update: 2021-09-07