There is a small public offering going on in relation to shares in the Formula One group. Shares of the company are listed on the NASDAQ stock exchange in New York, where they are currently trading at $32.95. Around 20 percent of the business (35.6 million shares out of the existing 173.9 million) will be sold in order to reduce the debt of the company, and specifically to get rid of a specific high-interest loan which the previous owners took on. Liberty is offering around 12.2 million (worth just over $400 million) of its own shares and the other stockholders have agreed to sell 23.5 million (worth around $775 million). The shareholders will take their cash, while Liberty will puts the money into the debt repayment. If the offering is oversubscribed they have agreed to sell an additional $176 million in shares, with Liberty selling shares worth $60 million and the other shareholders an additional $116 million. This will have an impact of the shareholding structure with CVC reducing its shareholding from 14.4 percent to eight percent, Waddell & Reed dropping from 7.7 percent to 4.31, LBI (the old Lehmann Brothers) will drop from 4.8 percent to 2.6 percent and the Ecclestone Family Bambino Trust reducing it involvement from 3.1 percent to 1.7 percent. Norway’s Norges Bank will also reduce from 3.7 percent to 2.1 percent. Overall, the other shareholders will reduce their share from 39 percent to 22. Bernard Ecclestone has less than one percent of the business.

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