Suppose a family owns 51% of their company's shares...

Suppose a family owns 51% of their company's shares. The remaining 49%
is owned by the public on a stock exchange. Is this company regarded
as being public or private? On one hand, the private entity, the
family, owns the majority of the stocks, and this qualifies it as a
private company. On the other hand, it's on a public exchange, and
therefore, it could qualify as a publich company.

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