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Unlisted shares are shares of a company that are not publicly traded on a stock exchange. They are also referred to as off-market stocks or over-the-counter (OTC) shares. Unlisted shares are typically owned by a relatively small number of investors, such as employees, founders, venture capitalists, or accredited investors. Because they are not traded on a regulated exchange, they can be more difficult to buy or sell, and their values may be less transparent than those of listed stocks. Unlisted shares are often traded on private markets, where buyers and sellers can negotiate prices directly without the transparency of public markets
