Characteristics of listed companies (1) Listed companies are joint-stock companies. A joint stock limited company may be a non-listed company, but a listed company must be a joint stock limited company; (2) A listed company must be approved by the competent government department. According to the Company Law, a joint stock limited company must be approved by the securities management department authorized by the State Council or the State Council, and may not be listed without approval. (3) Shares issued by listed companies are traded in stock exchanges. The issued shares are not traded on the stock exchange, but they are not listed. Compared with ordinary companies, the biggest feature of listed companies is that they can use the securities market to raise funds and widely absorb social idle funds, thus rapidly expanding the scale of enterprises and enhancing the competitiveness and market share of products. Therefore, after a joint stock limited company develops to a certain scale, it often takes the public listing of its shares on the exchange as an important strategic step for its development. From the international experience, almost all the world-famous large enterprises are listed companies. For example, 95% of the top 500 companies in the United States are listed companies.
legal ground
Company law.