Singapore — Formula One hopes to push ahead with its $2.5 billion listing Singapore later this year, a source close to the deal said Thursday, as global financial markets are buffetted by economic uncertainty. Dow Jones Newswires reported in May that the group was looking to launch its initial public offering (IPO) in mid-June, but the source told AFP that the earliest it would likely list would be from the second half of the year. The IPO has been rumoured for months, but there has been no official announcement on a date owing to market uncertainty.

F1 chief Bernie Ecclestone indicated in May the planned flotation may hit some speed bumps as global financial markets are hit by the escalating eurozone debt crisis. — AFP