LONDON (AP) — Williams F1 announced details of next month's flotation on the Frankfurt Stock Exchange on Wednesday, valuing what will become the first publicly traded Formula One team at €265 million ($361.3 million).
The British outfit, F1's third-most successful team but without a championship since 1997, said an initial public offering of a 27.39 percent stake in the company was on offer at between €24 ($32.72) and €29 ($39.54) per share.
"This IPO marks a new era in the history of our team," principal and co-founder Frank Williams said. "Our future as an independent constructor is sustained by this listing, providing us the base from which to further grow."
Williams, …
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