Although an issuing company can raise funds from the company through a DPO, investors will find that a trading exchange platform is not available. While the shares of an Initial Public Offering (IPO) trades on the NYSE or Nasdaq, a DPO will not have such a trading platform. These shares are traded in the over-the-counter markets (OTC). A public offering is a corporation’s sale of stock shares to the public. The effect of a public offering on a stock price depends on whether the additional shares are newly created or are existing, privately-owned shares held by company insiders. Newly created shares typically hurt stock prices, but it’s not always a sure thing.