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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/03/williams-stutters-on-market-debut.jpg"><img class="alignnone size-full" title="Rubens Barrichello driving for Williams in last year's British Grand Prix at Silverstone" src="http://londonglossy.com/wp-content/uploads/2011/03/min-williams-stutters-on-market-debut.jpg" alt="Rubens Barrichello driving for Williams in last year's British Grand Prix at Silverstone"/></a></p>
<p>Shares in British Formula 1 racing group Williams have stalled on their first day of trading following its 60 million euros (£51 million) flotation.</p>
<p>The company, whose AT&#038;T Williams team finished sixth in the Formula 1 constructors&#8217; championships last year, listed around 24% of its shares on the Frankfurt Stock Exchange in a move which will allow co-founders Sir Frank Williams and Patrick Head to plan their eventual retirement.</p>
<p>The initial public offering comprised 2.4 million existing shares at 25 euros (£21) a piece, at the lower end of an estimated range of 24 to 29 euros, valuing the placement at 60 million euros.</p>
<p>But shares slowed 4% to 24.05 euros on the first day &#8211; valuing the whole company at around 253 million euros (£214 million).</p>
<p>Following the trading debut, Sir Frank said: &#8220;Our listing marks a new era in the history of the team. Williams&#8217; future as an independent constructor is sustained by this listing, providing us the base from which to further grow.&#8221;</p>
<p>The majority of shares sold were owned by co-founder Patrick Head, who still has a 9% stake in the group. Sir Frank, who is team principal, owns just over 50%, while former racing driver Christian Wolff has a 16% stake.</p>
<p>Last month, the company said the move will provide stability for the business. But the company, whose drivers this year will be Brazilian Rubens Barrichello and Venezuelan Pastor Maldonado, has stressed that Sir Frank will remain in charge for the foreseeable future.</p>
<p>Williams, whose star drivers have included Nigel Mansell, Damon Hill and Ayrton Senna, has been without a world title since 1997 and a race win since 2004.</p>
<p>Last month it showed off its new FW33 car that it hopes will restore it to the top level of the sport.</p>
<p>Commenting on Williams&#8217; flotation, Frank Gerstenschlager, chairman of marketplace organiser Deutsche Borse, said the Frankfurt Stock Exchange was &#8220;an ideal platform for companies wishing to position themselves to attract international investors&#8221;.</p>
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