There are two types of public limited company. One is public but not listed. Another one is listed.

A) Private limited company vs public limited company (non-listed)

1) shares of public limited company can be transferred freely compared to private limited company. Majority shareholder has less control on the composition of shareholders, or, may even suddenly find that they are no longer the majority shareholder.

2) number of shareholders should be maintained at least 20.

Private limited company vs listed company

1) More financial information disclosure. That led to more costs, e.g. audit fee and also more information disclosed to public. Banks are easier to cut the bank lines if financial performance is poor.

2) Subject to more rules and regulations specially for listed company.

3) Subject to more third party assessment on company's performance

4) Major shareholder has less control over the company

5) There are requirements on the composition of board of directors.

6) Risks of being takeover by another company

7) Need to entertain bankers and investors

8) Major decision may require shareholders' resolution that is timely and costly. Also, it has risk that being rejected by shareholders.