Which type of corporation cannot publicly offer stock or list on exchanges?

A close corporation is specifically designed to limit the number of shareholders and restrict the transfer of shares among the owners. This type of corporation does not engage in public offerings, meaning it cannot publicly offer stock or list on stock exchanges. The intent behind such a structure is often to maintain a tighter control over the operations and ownership structure, allowing a close corporation to focus on the interests of the smaller group of shareholders rather than catering to the public.

In contrast, domestic and foreign corporations can have different structures and may qualify for public offerings depending on their size and operational goals. An open corporation, as opposed to a close corporation, is typically structured to allow the sale of shares to the public and may list on exchanges, thereby providing liquidity for its stock. Understanding these distinctions is essential in grasping how various types of corporations operate under the Revised Corporation Code.