TAIPEI (Taiwan News) — Publicly listed and over-the-counter companies in Taiwan will be required to provide relevant company information from July onwards, said the country’s financial regulator.
The Taiwan Stock Exchange Corporation (TWSE) and Taipei Exchange have amended rules requested by the Financial Supervisory Commission (FSC) to accommodate the new measure. The policy will be implemented in four stages as Taiwan works to increase transparency for its securities industry and woo foreign investors.
Foreign investors held approximately 41.22 percent of local equities as of December 2019, according to the FSC. This makes disclosure of company information in English an essential issue for Taiwan as it further globalizes its stock market.
Starting July, it will be mandatory that listed and over-the-counter companies with a registered capital of NT$15 billion (US$496 million) or more make company information available in both Chinese and English. This will cover approximately 65 percent of all enterprises.
All of the 942 listed companies, and the 460 over-the-counter companies with a capital size exceeding NT$600 million, will be required to provide bilingual versions of company data by 2024. This represents 99 percent of the total companies listed for trading on the stock exchange, reported Liberty Times.