A public offering is a process where a company sells its shares to the general public for the first time, often referred to as an Initial Public Offering (IPO). This allows the company to raise capital from a wide range of investors, which can be used for expansion, paying off debt, or other business needs. During a public offering, the company works with investment banks to determine the share price and the number of shares to be sold. Once the shares are available on the stock market, they can be bought and sold by investors, increasing the company's visibility and credibility in the market.