Wiwynn (6669), a Taiwan-based server maker, recently conducted a stock dividend issue that granted approximately 1,983 shares for every 1,000 shares held, due to a decimal ratio. This has left many retail shareholders with fractional shares of less than one full unit. Under current regulations, any fractional share not consolidated into a full share will have its value forfeited to cover book-entry transfer fees, effectively reducing the value of those fragments to zero, sparking complaints from small investors.
Wiwynn's stock dividend, a rare high-ratio distribution in Taiwan's stock market, offered nearly two bonus shares for each share held. The stock price hit a record high of NT$7,800 before the ex-dividend date on September 2, 2026, but the reference price fell to around NT$2,615 after the ex-dividend adjustment.
Due to the decimal ratio, many small shareholders found their accounts filled with indivisible fractions after the ex-dividend event. If left unaddressed, these fractional shares are not only repurchased by the company at the face value of NT$10 per share, but the resulting cash amount — a few New Taiwan dollars — is entirely deducted as processing fees, rendering the market value of thousands of dollars in equity worthless.
Self-Help Guide: Application Deadline and Required Documents
Retail investors are not without recourse. According to a notice from Yuanta Securities' stock agency department, shareholders can apply to consolidate fractional shares into full shares within a statutory period.
Application period: September 4, 2026, to September 8, 2026 (within five days of the record date).
Required documents:
- Fractional share transfer application form – must check the second item "2026 fractional share transfer and consolidation" and select "gratuitous" as the transfer type.
- Shareholder's seal card – attach copies of both sides of the ID card (exempt for existing customers who have already submitted a seal card).
- Original shareholder's seal/stamp.
Given the tight deadline of September 8, mailing is risky. Investors are advised to bring the documents to the Yuanta stock agency department in person during business hours:
Address: B1, No. 67, Section 2, Dunhua South Road, Da'an District, Taipei City
Service hours: Monday to Friday, 08:30 – 16:30
Warning: Unconsolidated Fractions Will Be Forfeited
Many investors assume that unconsolidated fractional shares will at least yield a few cash dollars. However, the official guidelines state that any remaining fractional shares are calculated at face value down to the nearest dollar, and the company's chairman is authorized to offer them to specific persons at face value. But because Wiwynn shares are issued in book-entry form, the proceeds from fractions less than one share are entirely used to cover book-entry transfer and other necessary processing fees, leaving shareholders with nothing.
In other words, the tiny cash amount from fractional shares is deducted as fees, while the original market value of those fractions — potentially thousands of dollars — is completely lost.
How to Consolidate on Site: Practical Steps and Risks
If an investor's own multiple accounts or relatives' fractions cannot be combined to make a full share, some shareholders choose to go to the stock agency office to find another investor to pair up. The process and risks are as follows:
On-Site Process
- Match decimals: At the stock agency counter, find another Wiwynn shareholder and compare your fractional share counts to ensure the sum is at least 1 share (e.g., 0.6 + 0.5 = 1.1).
- Execute a gratuitous transfer: Both parties fill out a transfer application, with one party transferring their fractions to the other, so that one person ends up with a full share for the distribution list.
- Private cash settlement: After the consolidation, the two parties settle the difference privately, typically based on the ex-dividend market price.
Potential Risks and Legal Concerns
On-site consolidation is a private agreement between shareholders. Once the shares are registered in the recipient's name, if the other party later refuses to pay the agreed amount or reneges, the stock agency and the company bear no responsibility, potentially leading to civil disputes.
While on-site pairing is a practical way to recover high-value equity, investors should first seek consolidation with trusted relatives. If pairing with strangers, they should settle the payment on the spot and keep a written agreement to protect their interests.
Additionally, unlike cash dividends, stock dividends require the company to apply for a change of capital with the Ministry of Economic Affairs' Department of Commerce and to list the new shares on the Taiwan Stock Exchange. The process takes about one month.