Work Flow
  • Decision on the acquisition and disposal of equity capital (The resolution is made in the Board of Directors of the listed company)
  • Announcement of decision to acquire and dispose of equity capital (The announcement is made by the listed company to the bourse on the day when the resolution was adopted.)
  • Submission of report on major details (The report is submitted by the listed company to the Financial Services Commission until the day after the resolution was adopted.)
  • Opening the account for the transaction of equity capital (listed company → investment broker)
  • Application for the transaction of equity capital (investment broker → K-Blox System), submission of bid price, and completion of transaction
  • Submission of report on the acquisition and disposal of equity capital (within 5 days of the expiry of the acquisition and disposal period; Listed company→ Financial Services Commission)
Period of Transaction
Within three months of the day after the announcement of resolution pertinent to the acquisition and disposal of equity capital
Investment Broker
The investment broker commissioned to handle the transaction orders during the period of equity capital transaction cannot take orders from more than 5 companies.
Application for Transaction
  • The application for the transaction of equity capital must be submitted through K-Blox from the closing of the regular market to 18:00 on the day prior to the date when the bid price of equity capital must be submitted.
  • Singular market value, opening hours, massive volume transaction after trading hours, etc., must be indicated separately in the application. Singular market value, opening hours, and massive volume transaction must be indicated separately in the application for quantity.
Transaction
Presentation of Bid Price
The bid price must be presented for the same quantity of the previous day. (The price can be split or revised only within the approved scope of price. The bid price cannot be canceled.)
Quantity for the bid price of the day
  • It must be within 1% of the issued shares. The quantity is determined as the higher between 10% of the planned quantity of acquisition/disposal and 25% of 1-month daily average trading quantity retroactive to the date before the resolution was adopted by the Board of Directors.
  • No limit to the bid price is imposed on the disposal of equity capital through massive purchase in after-hours trading.
  • There is no limit to the bid price for the day if the Financial Services Commission grants approval to protect investors and maintain the stability of the market in the wake of the rapid change in the market (within the number of shares as determined by the Board of Directors).
Scope of quotation prices
Time Bid Ask
Before Regular Session Previous day's closing price ~ 5% of the price Previous day's closing price ~ 2 ticks lower than the price
During Regular Session Lower limit: 5 ticks lower than the higher of the last traded price and the best bid Upper limit: 5 ticks higher than the higher of the last traded price and the best bid Lower limit: 5 ticks lower than the lower of the last traded price and the best ask Upper limit: 5 ticks higher than the lower of the last traded price and the best ask
Transaction of Equity Capital in Trust
  • The work flow, etc., are similar to the transaction of equity capital mentioned above. Note, however, that equity capital can be transacted during the trust contract period. Bid can be offered for 1% of the issued shares a day.
  • The report on the status of acquisition under the trust contract must be submitted within 5 days of the date when three months will have passed after the trust contract is signed. The report on the result of the termination of the trust contract must be submitted within 5 days of the termination of the contract