Williams F1 team's shares make Frankfurt debut

Updated: 02 March 2011 19:59 IST

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

Williams F1 team's shares make Frankfurt debut

Frankfurt:

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.

Topics : Formula 1 Lewis Hamilton Pastor Maldonado Williams
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