Williams F1 team's shares make Frankfurt debut

Shares in the Williams Formula One team have slipped in the company's debut on the Frankfurt stock exchange.

Shares of Williams Grand Prix Holdings PLC were listed at €24.07 ($33.25) early Wednesday, below the issue price of €25.00 and the initial listing of €25.25.

Principal and co-founder Frank Williams opted to raise money publicly after losing some sponsors in 2010. The company is selling a 27.39 percent stake, with Williams remaining the majority and controlling shareholder.

F1's third-most successful team hasn't won a championship since 1997 but says it made a profit in each of the past three years.

It has secured sponsorship for this season, in which veteran Rubens Barrichello and newcomer Pastor Maldonado will drive.