Is an AG like a US corporation?

Functionally similar - both are stock corporations with shares and a board structure - but an AG follows German corporate law, requires EUR 50,000 minimum capital, and has a mandatory two-board (management + supervisory) system that US corporations don't.

Are all AGs publicly traded?

No. Being an AG allows a stock-exchange listing but doesn't require one; many AGs are privately held. Only listed AGs have publicly traded shares.

AG

An AG (Aktiengesellschaft) is the German stock corporation - a capital company whose ownership is divided into shares that can be publicly traded, used by larger enterprises; broadly the equivalent of a US Corporation (Inc.).

An AG requires a minimum share capital of EUR 50,000 and a three-tier governance structure: a management board (Vorstand) that runs the company, a supervisory board (Aufsichtsrat) that oversees it, and the shareholders' meeting (Hauptversammlung). Only an AG (or an SE) can list its shares on a stock exchange, and most DAX companies are AGs.

A German AG with US operations does not trade or operate as an AG in the United States; it holds US subsidiaries (typically corporations) beneath it. The "AG" in a US-facing name signals a German publicly-held parent.

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Frequently asked questions

Is an AG like a US corporation?: Functionally similar - both are stock corporations with shares and a board structure - but an AG follows German corporate law, requires EUR 50,000 minimum capital, and has a mandatory two-board (management + supervisory) system that US corporations don't.
Are all AGs publicly traded?: No. Being an AG allows a stock-exchange listing but doesn't require one; many AGs are privately held. Only listed AGs have publicly traded shares.