initial offering vs commerce

initial offering and commerce both are nouns.

Word	Noun	Adjective	Verb	Adverb
initial offering	Yes	No	No	No
commerce	Yes	No	No	No

As nouns, commerce is a hypernym of initial offering; that is, commerce is a word with a broader meaning than initial offering:

initial offering: a corporation's first offer to sell stock to the public
commerce: transactions (sales and purchases) having the objective of supplying commodities (goods and services)

Other hypernyms of initial offering include commercialism, mercantilism.

initial offering (noun)	commerce (noun)
a corporation's first offer to sell stock to the public	transactions (sales and purchases) having the objective of supplying commodities (goods and services)
	social exchange, especially of opinions, attitudes, etc.