Sell stock to raise the cash with which he plans to start the Public Company (this is only required if the player starts his turn with less than the minimum necessary cash: however, the player may choose to sell stock to raise his cash to an amount that permits him to start the Public Company at a higher value).
This suggests that stock sales are only allowed if the money used from the stock sale is used to boost the par price of the new public company. At the moment any shares can be sold before starting a public company, even if the president has enough cash to start the public company at the maximum possible par price.
This should be changed to not allow sales if the player can start the company at the maximum price and, if anything is sold, making sure that the par price for the company isn't one that could have been chosen by selling less (or no) shares.
In section 5.2.2 of the rules:
This suggests that stock sales are only allowed if the money used from the stock sale is used to boost the par price of the new public company. At the moment any shares can be sold before starting a public company, even if the president has enough cash to start the public company at the maximum possible par price.
This should be changed to not allow sales if the player can start the company at the maximum price and, if anything is sold, making sure that the par price for the company isn't one that could have been chosen by selling less (or no) shares.