Generally, the companies can apply for arranging the listing directly, or can arrange in the form of personal denotation.

Personal denotation means that the stocks are given to relevant people or organizations directly by introducing in unopened form. Personal denotation can be arranged before listing, or after the company has been permitted to issue stocks but before it puts its name plate.

Theorily, personal denotation will publicly issue the stock, the price of which is low.