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When a company makes its securities available for purchase, this is known as an issuance. These securities can take the form of stocks, bonds, or other financial instruments. One specific type of issuance is known as issued shares, which refers to the portion of a company's shares that have been made available for sale. It's important to note that a company does not have to issue all of its authorized shares, which are the total number of shares that a company is allowed to issue.