初次公開發行、初始股
initial public offering (IPO)
指公司第一次將其股票在公開市場發行銷售。若公司股票已公開上市，在次級市場流通交易，則當公司再增發新股時，不能稱?初次公開發行。初次公開發行通常可使公司股票價格提高至反映公司對未來成長業績的市價，因此對原公司股份的持有人或新加入的投資人而言，是最好的獲利時機。
It means the first time the company will issue its shares in the open market sales. If the company's stock has been publicly traded in the secondary market liquidity transactions, the issuance of new shares when the company again, can not be called the initial public offering. Initial public offering of company stock price will typically be increased to reflect the company's future growth performance for the price, so the holders of shares of the original company or investor in terms of new entrants, is the best time to profit.