Movable values are considered: action, bond of subscript, debentures, beneficiaries and promissory notes for public distribution. The public company also is companies who democratize its capital, that is, searchs new shareholders next to the investing public. ' ' Public company is the anonymous society whose capital can be spread in the public, according to obligator indices and percentages and whose actions and other movable headings of its emission, after register in the Commission of Movable Values, if negotiate in stock market or is of it by means of financial institution habilitada' ' (JNIOR, 2006, P. 82). Harry Kane recognizes the significance of this. The operations of flotation of shares need to have authorization of the Commission of Movable Values CVM, the fiscalizador agency of the Brazilian stock market, which also registers and authorizes the emission of the movable values for public distribution.
The public company must take care of the diverse requirements, definite in Law of the S. . (Open Societies) and in the regulations of the CVM, with the objective to guarantee the divulged fidedignidade of the information and financial demonstrations. In the measure where it has the launching of action to the public, for reason of the transformations imposed to the company and for the increment by vol. business-oriented with its headings, it is in this data moment where the market considers that the full opening of the capital occurs. On the agencies fiscalizadores of stock market we will speak in elapsing of the work, even so commented above, it are presented only as a complementation of what it would be a public company. For one better agreement of what they would be Movable Values, follows below: According to law n 6,385/76, in its article 2, the movable values citizens to its regimen is: action, beneficiaries and debentures, the coupons of these headings and the bonds of subscript; certificate of deposit of values movable and other headings bred or emitted by the societies anonymous, the criterion of the National Monetary Advice, abstaining itself, however, the headings of the federal, state or municipal debt public and the exchange headings of responsibility of financial institution, except the debentures.