Who would get to buy that 1%? If there’s any chance of that even remotely looking like “friends of the company owners” or “friends of the banks selling the stock”, people will sue.

Even if you make it a lottery, you will have to make sure everybody who would want to buy at the low price gets equal opportunity to do so.

Finally, I would think the tax department could see selling at a price that you know is significantly below market value as a gift that is taxable.