04/02/2011
NEWS STORY
Williams Grand Prix Holdings PLC (Williams) has confirmed its intention to launch its Initial Public Offering (IPO) on the Frankfurt Stock Exchange.
The Swiss-based Bank am Bellevue AG will act as sole global co-ordinator and sole global book runner for an offering which 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 and is scheduled to conclude on or around 28 February 2011, while 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.