F1

F1: Formula One is still getting ready for an IPO although the timing is in question. The company was expected to issue a prospectus within nxt wk before a June IPO of approx US$3b. However, mgmt stressed that no fixed date was set though the decision to list within the year had not changed. Formula One obtains 1/3 of its revenue from race promotion fees with another 1/3 from broadcasting rightts and the remainder from advertising sales and other peripheral businesses. Goldman Sachs, MS, UBS have been hired to manage the IPO.