Report: Ecclestone delays F1 IPO amidst market upheaval
Posted by max at June 4th, 2012
The motorsports organization has been working toward a $3 billion IPO in Singapore that was originally scheduled to go live next month, and marketing for the IPO has already begun. But with Facebook’s disappointing showing last month and the tech company’s stock continuing to fall in value, Ecclestone says there’s no rush to go public.
F1 is offering a unique IPO, wherein the company’s shares and debt will be sold alongside one another. Ecclestone didn’t offer a firm date on when we can expect to see the his company go public beyond saying, “it’s going to be this year.” The 81-year-old executive was otherwise guarded about a date, indicating only that F1 will simply wait until it’s the right time.