/ Motorsport

Williams boosted by Stock Exchange listing

Updated: Thursday, 03 Mar 2011 10:31

Frank Williams
Frank Williams

Williams today took a step towards securing their future as they joined the Frankfurt Stock Exchange.

Williams Grand Prix Holdings PLC is fully subscribed, with a 2.4million share placement at €25 euros per share, offering a value of €60m.

Hailing the ground-breaking day for his team, Frank Williams said: ‘Our listing marks a new era in the history of the team.

‘Williams' future as an independent constructor is sustained by this listing, providing us the base from which to grow further.

‘Williams offers a unique opportunity to investors, and the response to the offering is recognition of this.’

Team chairman Adam Parr was on the floor of the Frankfurt Stock Exchange as the first trades in the team took place.

Parr said: ‘This listing demonstrates investor confidence in both Williams' future as an independent constructor and its ability to unlock the value of its brand and intellectual property.

‘Williams has solid growth potential which underpins its investment proposition.

‘We will now focus on realising that potential for the benefit of shareholders while continuing our progress back to the front of the Formula One grid.’