2, unlisted in order to go public, you can raise funds to set up a joint-stock company. At this time, he can raise funds from the public, that is, IPO, which is a primary stock market. Investors subscribe for new shares online and offline (speculation of new shares), although it is for the whole society, but not everyone can buy it, because there are more wolves and less meat; You should have heard of the winning rate and the winning rate, which is produced at this stage.
3. after 3.IPO, the company can't be called a listed company, and then the company has to apply to the exchange for listing. After the examination and approval of the exchange, stocks can be bought and sold on the exchange and can be called listed companies. This is the secondary market, and the stocks we buy are the stocks in the secondary market.