The Dutch East India Company issued the first publicly traded stock in 1602. Known in Dutch as the Verenigde Oostindische Compagnie, or VOC, it was established by the States General of the Netherlands on March 20, 1602.
The VOC was created by merging several Dutch trading ventures into one company with a monopoly over Dutch trade in Asia. Its charter allowed investors to subscribe to shares in a long-lasting enterprise rather than finance only one voyage. That structure helped spread risk across many investors and created a new way to raise substantial capital for overseas commerce.
VOC shares could be transferred to other investors, creating an active secondary market in Amsterdam. This is why the company is widely regarded as the first modern publicly traded company, even though earlier joint ventures and share-like arrangements existed. The first subscription raised about 6.5 million guilders, and the company later paid its first dividend in 1610.