F1 » Williams marks 'new era' as it reveals details of floatation


Williams has confirmed more details of the scheme that will see it become the first team in F1 history ever to be publicly floated on the stock exchange - what it describes as 'a new era' and a way of assuring its future in the sport

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Googolplex

February 10, 2011 12:12 AM

Looks like Patrick Head is cashing out. He is selling the majority of his shares in the upcoming IPO.

I still need Williams to explain why they are better off for the future by floating with all the consequential compliance costs involved in serving a large shareholder base, rather than getting a couple of large supportive corporate investors to take a strategic shareholding in the business. Perhaps they've had trouble getting corporate investors maybe Frank sees an IPO as a better way of keeping control.

rob01

February 10, 2011 3:04 AM

He lost 43M in sponsorship. He is trying to raise monies from fans wanting to be part of F1 to stay afloat. Most all investors buying shares will be fans looking to keep the name alive and not expecting a return on their investment. Bernie said he would like to buy some stock but can't. This didn't stop him from giving/advancing/loaning money to Frank before. Too bad Max isn't here he would allow them a double diffuser this year with unlimited KERS.

107SS2009

February 10, 2011 4:17 AM

Patrick Head will be providing the majority of the shares which will be floated of which he holds/owns 27%, he intends to hold 5% and so 22% of his shares will be floated, and that means the majority of the proceeds of the floatation will be going to Patrick Head rather than the company.

DontTalkShite

February 10, 2011 5:13 AM

Just what cranky Franky needs, shareholders to answer to! Not a bad idea to be frank (no pun intended) to raise instant cash, as long as they raise enough to make it sustainable and he can handle the strucure of a publicly listed company.

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