Formula 1 fans, do you want to own a part of the sport you love? Well, you can technically do so soon, as F1 is all set to make its debut on the Singapore stock exchange. The floatation on SGX, scheduled to happen next month, is expected to offer up to 30% of shares to investors.
The man running the show will be Austrian Peter Braback-Letmathe, a non-executive board member of Delta Topco, which is the parent company of CVC Capital Partners, the private equity group that holds F1’s commercial rights. Braback-Letmathe is also chairman of the board and a former CEO of Swiss food giant Nestle.
“We intend to float F1 in Singapore soon. Some roadshows and presentations have taken place already. It’s true that I said I would be ready to chair the board in a non-operative function. If F1 goes public it will be important to have an independent chairman.” Braback-Letmathe told Austrian newspaper Salzburger Nachrichten.
Pretty soon, “I own Formula 1” will be a boast non-Bernie Ecclestones like you and me can pull off, even if it’s just 0.00001% :)
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arrrrhhhh….is f1 going to make a lot of money after listed??? i think it’s more for bernie to suck more blood…then f1 will lose its purpose as more money will be diverted to the owners rather than for the benefits of the sports…
Looks like you can predict the future.
Stupid comment. Not sensible.
phew…..u’re the “blood sucker” in the 1st place looking some BLUE Chip. mind u will regret it. imo i don’t sense the business model is viable, or sustainable…as f1 is just an organiser of the race, nothing else. this just in contrary w/ the english football clubs where the listed money are invested in developing football. f1 well it’s an EXPENSIVE & elusive one. well f1 earning a lot from ticket & broadcasting rights but is the money being used to develop the sports. i think it’s more of car manufacturer want to develop their car though participating in f1. likewise broadcaster would want to add up to their bottomline. not to forget the f1 organisation want to earn MORE by if more car manufactures participating in the sports. but again f1 it’s EXPENSIVE even toyota & honda pull out.
Another global listing has gone to Singapore. This really shows how much “confidence” investors have with our bursa.
confidence have nothing to do between ours and theirs. what makes it difference is our regulation that doesn’t allow it to be happen. do you wonder why MUFC launch IPO in SGX instead in its homeland? London bursa is not good enough?
I am pretty ignorant in financial matters. But if I am not mistaken, MUFC was listed on the London Stock exchange until it was bought over by some businessman. The share was later floated due to crushing debt.
That was a “stupid” comment you just made.
f1 listed what a ….
how much is the ipo price?
Looks like similar to Enron case when they create stock for unjustified pure value vs market value. In other words, pull public monies by pledging stock that never exist.
Just brilliant people selling to people who thought they are brilliant. At the end of day, history of Enron will repeated again
singapura mati lah. hidup malaysia