A stock offering by a private firm involving the registration and sale to the public of existing shares, but no new shares, is called:

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A direct listing is a type of public offering where existing shares are sold to the public, without the involvement of underwriters. Unlike an IPO, no new shares are issued, and therefore the company does not raise any new capital. This type of listing is typically used by established companies with a strong track record, and may save on underwriting fees and restrictions on insider sales.

A Stock Offering by a Private Firm Involving the Registration