secondary offering

American  

noun

Stock Exchange.

1. the sale of a large block of outstanding stock off the floor of an exchange, usually by a major stockholder.

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Example Sentences

Coller, for example, in July raised $6.8 billion for its latest private-credit secondary offering, more than four times the $1.4 billion it amassed for its previous private-credit secondary fundraise in 2022.

From The Wall Street Journal

The state-controlled group sold 18 million shares in the upsized public secondary offering, leaving it with a 73.3% stake in DRS.

From Reuters

Leonardo late on Wednesday said it would launch a public secondary offering of 16.5 million shares, or a 6.3% minority stake in DRS, worth about $344 million, according to Reuters calculations, reducing its holding to just below 74%.

From Reuters

Morgan are joint bookrunning managers for the secondary offering.

From Reuters

LLC, Citigroup and Morgan Stanley are acting as joint bookrunning managers for the secondary offering.

From Reuters