FORMULA ONE’S WILLIAMS SEES IPO SUCCESS

WILLIAMS priced its Frankfurt listing at €25 per share yesterday, putting the Formula One motor racing team’s founders on the road to around €52m (£44m) from selling some of their stake. The IPO valued the firm, founded by Frank Williams and Patrick Head, at €250m. Around 97 per cent of the shares were bought by institutional investors. Shares are due to start trading in Frankfurt today.