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Williams founders to bank $70 min via IPO. Price at 25 eur/share.
Williams priced its Frankfurt listing at 25 euros per share on Tuesday, putting the Formula One motor racing team's founders in line to bank around 52 million euros ($70.5 million) from selling some of their stake.
The initial public offering (IPO) valued the firm, founded by Frank Williams and Patrick Head in 1977, at 250 million euros, raising a total of 60 million euros for the three selling shareholders.
The sale of 2.4 million existing shares, including an overallotment option, represents a 24 percent stake in the company.
Head is set to pocket around 36 million euros from the sale of more than half of his stake, while team principal Williams, who will remain the majority shareholder, will make about 16 million euros after reducing his holding.
Austrian private equity investor Christian 'Toto' Wolff is also selling some of his 16.3 percent stake.
Earlier Article on Williams Public IPO:
Williams to become first publicly traded company.
Williams shunned London IPO over disclosure.
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