Williams F1 Team Markets IPO On Frankfurt Stock Exchange

The Williams F1 team joined the Frankfurt Stock Exchange today as Williams Grand Prix Holdings PLC. The IPO of 2,409,383 no-par value ordinary bearer shares carried an issue price of US$34.56 and an initial listing price of US$34.91. Bank am Bellevue acted as the sole global coordinator and sole global book runner, while designated sponsor Baader Bank AG acted as joint lead manager and local book runner for Germany (Deutsche Borse).

With the IPO, team co-founders Patrick Head and Sir Frank Williams are selling 27% of the organization's shares. The "majority of the shares are understood to come" from Head (TELEGRAPH.co.uk, 2/28).