See initial public offering. When a company reaches a certain stage in its growth, it may decide to issue stock, or go public, with an initial public offering (IPO). The goal may be to raise capital, to provide liquidity for the existing shareholders, or a number of other reasons.
Sherbet (often pronounced sherbert in American English) is a frozen dessert made from iced sweetened fruit juice or puree. Sherbets usually have more ingredients, such as milk, egg whites, or gelatin, than sorbets, which are generally made from iced fruit puree and other ingredients.
Sorbet is made of frozen fruit juice, without or without pureed fruit, along with some sort of sweetener, but no milk, cream or other dairy. If you were making orange sherbet, you'd use orange juice, combining the juice, sugar and milk in an ice-cream maker and processing until done.