Subscription for IPO Securities

In TWSE's market, the IPO securities are open to the investors to subscribe for buying. Investors applying for buying IPO securities have to hand in the required payment to the securities firms which will transfer the subscription value to the TWSE after TWSE uses the computer to choose the eligible investors through random selection. TWSE will transfer all the collected subscription value to the underwriter of the issuer after reducing some sorts of expenditures.