well I dont know what they mean by "unlisted shares".
If they are founder shares which the founders have promised to sell for 2 years, or similar, then they are part of the market cap even if considered to be unlisted.
Or they could be shares only on a foreign exchange, which would be part of the total market cap.
If they are some completely different class of shares, well it gets complicated....
With preference shares, it gets complicated. If they are similar to the regular shares with a prefered div, include them. If they are convertible to ordinary shares and likely to be so converted, include them. If it is really some kind of debt, dont include them.
If you are considering current market cap, you ignore the options. If you are considering "diluted" market cap, you would assume that all options worth exercising ( whether listed or unlisted ), and therefore add to the total number of shares on issue. But you would ignore options way out of the money , as they would be unlikely to be exercised.
Once you have determined the total number of shares ( current or diluted ), then multiply by the market price.
