(FINANCE) issue of stock by a firm that already has stock in circulation.
Follow-on offerings account for a little over 83% of new finance capital
raised on the NYSE
. The other 17% was initial public offering (IPO).
Between 1 January and 31 August 2010, 46 companies had made an initial public offering on the NYSE; another 33 had made a follow-on offering. But while the IPO's accounted for $9.5 billion, the FOO's accounted for almost $55 billion.