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Differences between a private and public company 

Private company
- May not offer shares to the general public.
Public company
Trades its shares publicly on the Johannesburg Securities Exchange.

Private company
-Name must end with Proprietary Limited/(Pty) Ltd.
Public company
- Name must end with Limited/Ltd.

Private company
-Financial statements must be independently reviewed but not necessarily audited.
Public company
- Annual financial statements need to be audited

Private company
- Does not need to publish a prospectus as it cannot trade its shares publicly.
Public company
- Have to register and publish a prospectus with CIPRO.

Private company
-The company is not required to raise the minimum subscription/ issue minimum share
Public company
-Must raise a minimum subscription prior√ to the commencement of the company.√ 

Private company
-The company is not required to raise the minimum subscription/ issue minimum shares. 
Public company
- Must raise a minimum subscription prior to the commencement of the company.

Private company
Managed by a minimum of 1 or 2 directors
Public company
- Managed by a minimum of 3 directors.

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