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Williams to float on Frankfurt Stock Exchange 04 Feb 2011

Rubens Barrichello (BRA) Williams FW33. Formula One Testing, Day 1, Valencia, Spain, Tuesday 1 February 2011. Frank Williams (GBR) Williams Team Owner.
Formula One World Championship, Rd 12, Hungarian Grand Prix, Practice Day, Budapest, Hungary, Friday, 30 July 2010

After announcing last month that they were considering selling shares in the team to the public, Williams have now confirmed their intention to launch their Initial Public Offering (IPO) on Germany's Frankfurt Stock Exchange.

“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,” read a statement from the team. “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. 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.

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