Regulations Governing the Offering and Issuance of Securities by Foreign Issuers Article 35
When a foreign issuer sponsors issuance of TDRs by a depositary institution -- except in the case of sponsoring issuance of TDRs in connection with acquiring shares of a domestic [Taiwan] company, merging with or acquiring a domestic [Taiwan] company, or acquiring a unit demerged from a domestic company -- the foreign issuer shall engage securities underwriter(s) to handle public underwriting.
中文原文 外國發行人募集與發行有價證券處理準則第35條
外國發行人參與存託機構發行臺灣存託憑證，除受讓本國公司股份、合併、收購本國公司或受讓本國公司分割而參與發行臺灣存託憑證者外，應委託證券承銷商辦理公開承銷。