Williams Grand Prix Narrows Range for I.P.O.

Formula One racing team operator Williams Grand Prix Holdings has narrowed the price range for its initial public offering to between 25 euros and 27 euros ($34 to $37) per share, Reuters reported. The company’s founders Sir Frank Williams and Patrick Head, who started the company in 1977, own a majority stake. Austrian private equity investor Christian 'Toto' Wolff holds a roughly 10% stake Williams Grand Prix, Reuters said. The company will list on the Frankfurt exchange.

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