F1 IPO...

[dando]

http://www.cnbc.com/id/47500921


Motor racing business Formula One will start pre-marketing for its up to $3 billion Singapore initial public offering on May 22 after receiving approval from the city's stock exchange for the deal, a source with direct knowledge of the plans said on Monday.

The company is seeking to raise between $2.5 billion to $3 billion, vying to rank among the top IPOs in the world this year after Facebook [FB 35.50 -2.50 (-6.58%) ] raised as much as $18.4 billion and a planned $3 billion listing by Malaysia's Felda Global Ventures Holding

:gomer: :saywhat: :shakehead

-Kevin

[WickerBill]

These things always end well.

[dando]

These things always end well.

IMO, the old adage on how to make a million $$$ in racing applies here.... :gomer:

The fact that I found this story while reading a piece on FB tanking this AM speaks volumes.

-Kevin

[Indy]

It's an empty freaking shell, propped up by the will of a few old men. Just like CART. And MPH did well, right?

[Napoleon]

Does anyone know why they would pick Singapore? Is this like flagging your American owned ship in Liberia since you know you are dealing with regulators who will look the other way?

[cameraman]

It gets them out of any EU regulation and it is a highly respectable exchange.

[cameraman]

CVC have sold £1bn worth of F1 shares to 3 finance houses...

[DagoFast]

It sounds like the pump and dump has commenced. :shakehead

[opinionated ow]

I see this going the same way as Facebook. Sport governing bodies should NOT be run as a commercial enterprise.

[cameraman]

They are not selling the FIA.

[stroker]

They are not selling the FIA.

What moron would BUY it?

:)

[opinionated ow]

They are not selling the FIA.

No, but the commercial aspect is as much a part of the governance and that should never have been sold off either.

[mueber]

You'll have to wait until later to ask Bernie questions at the shareholder's meeting: http://www.reuters.com/article/2012/06/01/asia-ipo-idUSL4E8GU83J20120601

[Napoleon]

http://www.nytimes.com/reuters/2012/06/16/business/16reuters-formula-one-cvc.html?_r=1&hp&pagewanted=print

[Michaelhatesfans]

http://www.nytimes.com/reuters/2012/06/16/business/16reuters-formula-one-cvc.html?_r=1&hp&pagewanted=print

"Its revenues are expected to exceed $2 billion this season for the first time - helped by sponsorship and hosting fees which circuits pay for the right to stage races."

So, Europe will pretty much be off the schedule, then.

[Methanolandbrats]

Well boys and girls, go to Texas for the Fire Ant GP because this IPO ******** is the beginning of the end for F1. From now on it will be all about enhancing shareholder value and nobuddy will GAF about the on-track product.

[opinionated ow]

Well boys and girls, go to Texas for the Fire Ant GP because this IPO ******** is the beginning of the end for F1. From now on it will be all about enhancing shareholder value and nobuddy will GAF about the on-track product.

I thnk you'd be daft to buy it. At any point the FIA can turn around and yank the championship back...

[gerhard911]

Could the new shareholders BE any more greedy than Bernie :\

[datachicane]

From now on it will be all about enhancing shareholder value and nobuddy will GAF about the on-track product.

Replace 'shareholder' with 'Evil Dwarf' and you've described the current scenario.