Where is a secondary offering of shares most likely issued?

A secondary offering of shares is most likely issued in the secondary market. This type of offering occurs when a company issues additional shares after the initial public offering (IPO), enabling existing shareholders to sell their shares to new investors. The secondary market facilitates the trading of these shares, allowing for liquidity and price discovery after they have been initially sold in the primary market.

The primary market is where securities are created and sold for the first time, typically during an IPO. Therefore, it is not the correct answer for where a secondary offering would be issued. The contract market is less relevant in this context as it usually pertains to derivative contracts rather than share offerings. The over-the-counter market is a decentralized market, which can include secondary transactions, but it is not the primary venue for official secondary offerings in the way that recognized exchanges do. Thus, the secondary market is the most appropriate and relevant choice for where secondary offerings occur.