Taipei Mayor Chiang Wan-an (蔣萬安) yesterday said the city government would look into EasyCard Corp’s Emerging Stock Market listing process shortly before a change in administration in December last year.
Local media outlets on Thursday said that Chiang was none too pleased to learn that the city government, led by then-mayor Ko Wen-je (柯文哲), had made the decision about EasyCard’s listing just before Ko’s term ended, saying it would dilute the government’s shares in the company.
EasyCard on Dec. 9 announced that its board had approved its plan to apply for listing on the Taipei Exchange’s Emerging Stock Market. Ko stepped down from his post on Dec. 25, and the company debuted on the stock market in January.
Photo: Tien Yu-hua, Taipei Times
During a question-and-answer session at the Taipei City Council on Friday last week, Chiang said that the decisionmaking process for EasyCard’s listing appeared rushed, and a caretaker government should respect public opinion when making a major decision that would affect a company’s future operations and the disposal of public property.
Chiang said he has instructed Taipei City Government Secretary-General Lee Tai-hsin (李泰興) to gather officials from the city’s departments of legal affairs, finance and transportation, and EasyCard this week to gain an understanding of the case.
Ko on Friday said that Chiang is not familiar with city government administration, as any decision must be made by the company’s board of directors and the Financial Supervisory Commission.
Ko added that the decision to list the company would not affect the city government’s rights and would make it more difficult to interfere with the company’s decisions.
Former EasyCard chairwoman Ting Chen (陳亭如) yesterday wrote on Facebook that the company had reported to Chiang and city government officials about the listing in late December and again on Jan. 11, so the city government must know about it.
Asked about Ting’s comments, Chiang yesterday said the decision was made last year and submitted for review before the new city councilors took office, which was disrespectful of public administration procedures.
As city councilors and the public have concerns about the case, the city government would look into it as his first priority is the rights of the city’s residents, he added.
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