OPA (Public Offering - Takeover Bid)
An offer made to the shareholders of a company by an individual or an organisation to buy their shares at a specified price in order to gain control of that company.

OPS (Share Exchange Offer)
A share exchange offer is a public offering in which the price is not paid through security transfer.

Option
The right, but not the obligation, to buy or sell an asset at a set price on or before a given date.

Ordinary share
Certificate representing one unit of ownership in a company. Ordinary shares have no guaranteed amount of dividend but carry voting rights.

Outstanding shares
Shares that are currently owned by investors.