Williams FW33 Formula 1 car
After announcing last month that they were considering selling shares in the team to the public, Williams (Williams Grand Prix Holdings) have now confirmed their intention to launch their Initial Public Offering (IPO) on Germany’s Frankfurt Stock Exchange. The IPO will include a public offering in the UK, Germany, Switzerland and Austria, as well as a private placement for institutional investors outside those European countries and outside the US, Canada, Japan and Australia. The offering will consist of up to 27.39% of existing shares, totalling 2,739,383 shares.
Shares will have a nominal value of GBP0.05 each, of which up to 330,000 shares will come from an over-allotment option, the company said. Williams F1 is the first Formula One team to list on a stock exchange but Sir Frank Williams, Mr Head’s co-founder and the team’s namesake, will retain his position as majority shareholder and Team Principal.
The group consists of two businesses: the Formula One racing team and New Business, such as Williams Hybrid Power which builds on the technology developed for Formula One to apply to high-power energy. The racing team was founded in 1977, has won seven drivers’ championships and is the most successful team on the grid in terms of constructor’s championships with nine wins.
Williams FW33 Formula 1
Williams FW33 Formula 1
