Halka arz is the process through which a private company offers its shares to the public for the first time. This allows the company to raise capital by selling ownership stakes to investors. Once the shares are sold, the company becomes publicly traded, and its shares can be bought and sold on a stock exchange. The primary goal of halka arz is to generate funds for expansion, pay off debts, or invest in new projects. It also provides liquidity for existing shareholders, allowing them to sell their shares in the open market.