Offer for Sale
There are two main ways for a company to list new shares 1) By an offer for sale, which is a public invitation by a sponsoring intermediary such as an investment bank. 2) By an offer for subscription, or direct offer, which is a public invitation by the issuing company itself. The offer can be made at a price that is fixed in advance or it can be by tender where investors state the price they are prepared to pay. After all bids are received, a strike price is set which all investors must pay.