Flotation (Stock Market Listing)

A flotation (or "floating" a company) is the British term for selling a company's shares to the public and listing them on a stock exchange for the first time. In the United States it is called an initial public offering (IPO), which is explained in full on that page.

A flotation raises new money in the primary market; afterwards the shares trade between investors in the secondary market. The company becomes a listed (quoted) company.