F1 »

Williams stock market flotation is go

"Williams Grand Prix Holdings PLC (Williams) confirms its intention to launch its Initial Public Offering (IPO) on the Frankfurt Stock Exchange."

After announcing two weeks ago that it was contemplating a flotation on the stock market as a way of securing its long term future, the Williams F1 team has said it will now push ahead with that proposal.

“Williams Grand Prix Holdings PLC (Williams) confirms its intention to launch its Initial Public Offering (IPO) on the Frankfurt Stock Exchange,” the team said.

“The offering will consist of up to 27.39% or 2,739,383 existing shares, with a nominal value of GBP 0.05 each, of which up to 330,000 shares will come from an over-allotment option.

"Sir Frank Williams will remain the majority and controlling shareholder of Williams and Team Principal of the AT&T Williams team.”

Bookbuilding is expected to begin on 9 February 2011 and is scheduled to conclude on or around 28 February 2011. The first day of trading on the Entry Standard segment of the Frankfurt Stock Exchange is expected on 2 March 2011. The bookbuilding price range and final placement price are expected to be published on or around 9 February 2011 and 28 February 2011 respectively.

“Swiss-based Bank am Bellevue will act as sole global co-ordinator and sole global bookrunner,” Williams continued.

“Baader Bank will be joint lead manager and local bookrunner for Germany. Austrian GBR Financial Services and Online Brokers DAB (Germany) and Brokerjet (Austria) will be selling agents.

“The IPO will include a public offering in Germany, the UK, Austria and Switzerland and a private placement for institutional investors outside Germany, the UK, Austria and Switzerland, the United States of America, Canada, Japan and Australia.”



Related Pictures

Click on relevant pic to enlarge
Frank Williams (GBR) Williams Team Principal, Turkish F1, Istanbul Park, 9th-11th May, 2008
Frank Williams (GBR) Williams Team Principal, Turkish F1, Istanbul Park, 9th-11th May, 2008
11.02.2010 Jerez, Spain, Williams Logo - Formula 1 Testing, Jerez, Spain
05.08.2006 Budapest, Hungary, Sir Frank Williams (GBR), WilliamsF1 Team, Team Chief, Managing Director, Team Principal - Formula 1 World Championship, Rd 13, Hungarian Grand Prix, Saturday Practice

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.




© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.