Definition
Offer for Sale – The portion of an IPO where existing shareholders sell their own already-issued shares to new public investors, as opposed to a "fresh issue" where the company itself issues new shares and keeps the proceeds. Proceeds from an OFS go to the selling shareholder, not the company, so an IPO's total issue size can overstate how much new capital the company itself actually raised. Found In: Prospectus/Offer Document, Notes to Financial Statements (share capital)