Arsenal's parent company, Arsenal Holdings plc, operates as a non-quoted public limited company, whose ownership is considerably different from that of other football clubs. Only 62,217 shares in Arsenal have been issued, and they are not traded on a public exchange such as the FTSE or AIM; instead, they are traded relatively infrequently on the ICAP Securities and Derivatives Exchange, a specialist market. On 10 March 2016, a single share in Arsenal had a mid price of £15,670, which sets the club's market capitalisation value at approximately £975m. Most football clubs aren't listed on an exchange, which makes direct comparisons of their values difficult. Business magazine Forbes valued Arsenal as a whole at $1.3 billion in 2015. Consultants Brand Finance valued the club's brand and intangible assets at $703m in 2015, and consider Arsenal an AAA global brand. Research by the Henley Business School modelled the club's value at £1.118 billion in 2015, the second highest in the Premier League.

By what means does Arsenal operate as a company?