Busy Bean, my understanding BIG is still a public company (ie LTD, not Pty Ltd) but no longer a listed public company.
https://legalvision.com.au/difference-between-public-and-private-company/
Either way, not a big difference so not trying to be critical. Perhaps the key difference is around disclosure:
5. Disclosure Requirements
Generally speaking,
disclosure requirements for private companies are not as stringent as those for public companies. Small private companies have the least disclosure requirements. A small private company is one with a gross operating revenue of less than $25 million and gross asset value of less than $12.5 million. Small private companies do not require an audit and do not need to file financial statements or a directors’ report. In contrast, large private companies must file these disclosure statements.
Public companies share similar disclosure requirements to large private companies, but must also:
- provide those reports to their shareholders;
- hold annual general meetings (AGMs); and
- disclose their constitution to shareholders.