👉 Preissuing, also known as "pre-issuance", is a legal concept in which an issuer of securities issues securities to a third party before they are issued and can be traded. This allows the issuer to retain control over the securities until such time that they become fully流通（流通）. In other words, it means that the issuer has some control over the securities before they are actually issued on the market, which is why they need to issue them at a lower price (pre
