The word float is used when a company seeks to raise capital by offering its shares to the public for the first time. The company must first submit details of its business and proposed share issue to the Securities Commission in a form of a prospectus. Once the prospectus is lodged and is registered and approved by the Securities Commission. It can then be forwarded to potential investors for consideration.
If you wish to invest in the company, you must first review the prospectus, fill in the attached application form specifying the number of shares you want to buy, and send it with your payment to the company or lodge it with your broker or agent.