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.
Sherbet does not have milk as far as I have ever seen. Ice cream is just that ice-cream(milk). I have never heard of sherbert ice cream. Read the lable to make sure. If your intolerance is great, might want to call the company that produces it.