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 Â24.07 ($33.25) early Wednesday, below the issue price of Â25.00 and the initial listing of Â25.25.
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.