The Taiwan Stock Exchange (TWSE) plans to require listed companies to disclose all information related to their subsidiaries’ initial public offerings (IPOs) in overseas markets, TWSE spokeswoman Rebecca Chen (陳麗卿) said on Wednesday.
While subsidiaries usually offer their guidance for financial performance, expected returns for shareholders and business plans for the following years in their prospectuses, shareholders of parent companies have mostly been kept in the dark, Chen told the Taipei Times by telephone.
The move aims to increase transparency and protect the interests of listed companies’ shareholders, she said.
TWSE’s board of directors on Tuesday approved amendments to regulations on listed companies, Chen said.
The new regulations are to take effect once they are approved by the Financial Supervisory Commission, she said.
Chen did not name any company, but the changes came after LCD maker Chunghwa Picture Tubes Ltd’s (CPT, 中華映管) Chinese subsidiary said in its 2010 IPO prospectus to the Shenzhen Stock Exchange that it would pay investors 10 percent returns and CPT would compensate if the subsidiary made losses.
However, CPT shareholders were mostly uninformed about the arrangement, New Power Party Legislator Huang Kuo-chang (黃國昌) has said.
“Companies are free to make any promise in any market, but it matters if their actions affect their parent company’s profitability. We [the TWSE] should strengthen our oversight,” Chen said.
Under the planned changes, publicly traded companies would also be required to establish a special committee to review such promises, report to the board of directors, disclose information on the TWSE’s Web site and inform shareholders, she said.
OpenAI has warned US lawmakers that its Chinese rival DeepSeek (深度求索) is using unfair and increasingly sophisticated methods to extract results from leading US artificial intelligence (AI) models to train the next generation of its breakthrough R1 chatbot, a memo reviewed by Bloomberg News showed. In the memo, sent on Thursday to the US House of Representatives Select Committee on China, OpenAI said that DeepSeek had used so-called distillation techniques as part of “ongoing efforts to free-ride on the capabilities developed by OpenAI and other US frontier labs.” The company said it had detected “new, obfuscated methods” designed to evade OpenAI’s defenses
NEW IMPORTS: Car dealer PG Union Corp said it would consider introducing US-made models such as the Jeep Grand Cherokee and Stellantis’ RAM 1500 to Taiwan Tesla Taiwan yesterday said that it does not plan to cut its car prices in the wake of Washington and Taipei signing the Agreement on Reciprocal Trade on Thursday to eliminate tariffs on US-made cars. On the other hand, Mercedes-Benz Taiwan said it is planning to lower the price of its five models imported from the US after the zero tariff comes into effect. Tesla in a statement said it has no plan to adjust the prices of the US-made Model 3, Model S and Model X as tariffs are not the only factor the automaker uses to determine pricing policies. Tesla said
China’s top chipmaker has warned that breakaway spending on artificial intelligence (AI) chips is bringing forward years of future demand, raising the risk that some data centers could sit idle. “Companies would love to build 10 years’ worth of data center capacity within one or two years,” Semiconductor Manufacturing International Corp (SMIC, 中芯) cochief executive officer Zhao Haijun (趙海軍) said yesterday on a call with analysts. “As for what exactly these data centers will do, that hasn’t been fully thought through.” Moody’s Ratings projects that AI-related infrastructure investment would exceed US$3 trillion over the next five years, as developers pour eye-watering sums
Australian singer Kylie Minogue says “nothing compares” to performing live, but becoming an international wine magnate in under six years has been quite a thrill for the Spinning Around star. Minogue launched her first own-label wine in 2020 in partnership with celebrity drinks expert Paul Schaafsma, starting with a basic rose but quickly expanding to include sparkling, no-alcohol and premium rose offerings. The actress and singer has since wracked up sales of around 25 million bottles, with her carefully branded products pitched at low-to mid-range prices in dozens of countries. Britain, Australia and the United States are the biggest markets. “Nothing compares to performing
RSS