初次发行是指新组建股份有限公司时，或原非股份制企改制为股份有限公司，或原私人持股公司要转为公众持股公司时，公司首次发行股票。前两种情形又称设立发行，后一种情形又称首次公开发行( initial public offerings,IPO)。
初次发行比特币需要大量的计算机算法，以验证工作序列（块）和校对。
Primary issuance of Bitcoin is determined by computer algorithms which require large amounts of computer power, to validate sequences (blocks) and proof-of-work.
例如，建屋发展局和裕廊镇管理局的债券初次发行时，都在散户市场出售。
For example HDB and JTC bonds were offered to the retail market during their primary launches.
当印度最知名的开发商DLF去年夏进入证券市场时，其成为了当时初次发行量最大的新股。
When DLF, India's best-known developer, floated on the stock exchange last summer, it was India's biggest-ever initial public offering at the time.
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