A public limited company is the legal status of any firm which has offered shares to members of the general public and in turn owns a limited amount of its own shares. Public limited firms are also known as publicly held companies. In a PLC, shares are sold to the public on the stock market. People who own shares are called 'shareholders'. They become part owners of the business and have a voice in how it operates. A chief executive officer (CEO) and board of directors manage and oversee the business' activities. A public company can transition to private ownership when a buyer acquires the majority of it shares. This public-to-private transaction effectively takes the company private by de-listing its shares from a public stock exchange. A limited company can be set up by a single individual who will be the sole shareholder and company director, or by multiple shareholders.

Prachi Garg

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