Question

St. McStanky Beer Co. recently raised capital through an initial public offering (IPO). Its stock can now be purchased on the NYSE. This company is referred to as:_________.

Answer 1

A publicly owned company or corporation

Step-by-step explanation:

A publicly owned or public corporation can be defined as a company whose majority shares are held by general public, making the shareholders ultimate owners of the company. The shares can be purchased and bought in stock exchange markets such New York Stock Exchange (NYSE).

Since, The St. McStanky Beer Co. has made an Initial public offering in the New York Stock Exchange, it will also be known as a publicly owned company.