The Williams Formula 1 team made its debut on the Frankfurt stock exchange on Wednesday morning. The team's initial public offering comprised 2,409,383 existing shares at 25 euros each, valuing the placement at 60 million euro.
At the time of writing, the shares were at 23,930 euros each.
"Our listing marks a new era in the history of the team," said team boss Frank Williams. "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."
CEO Adam Parr visited the floor of the Frankfurt stock exchange this morning.
"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," said Parr. "Williams has solid growth potential which underpins its investment proposition; we will now focus on realizing that potential for the benefit of shareholders while continuing our progress back to the front of the Formula 1 grid."