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What is an FPO (Follow-on public offering)?

A Follow-on Public Offering (FPO) is a type of public offering where a publicly traded company raises additional capital by issuing new shares to the public. An FPO is carried out by a company that has already gone public, as opposed to an Initial Public Offering (IPO), which involves a firm going public for the first time. Under an FPO, the company offers fresh shares to the general public, with all net proceeds going to the company. The shares can be purchased at a set price or through book building, where a bidding process is used to determine the price. The application process is similar to that of IPOs. To learn more, see How to apply for an IPO, and how to stay informed of new ones?