We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Rangers FC raises £22mn in share issue


Club’s floatation commences on London’s AiM

Article comments

Rangers Football Club has raised a total of £22.2 million from fans and institutional investors in tandem with its formal floatation on London's AiM where its shares began trading on Wednesday.

The deadline for fans to buy new shares in the club passed on Tuesday afternoon but not before they had invested £5 million. It is understood there is already a commitment to the major part of the share offer, with high net-worth individuals and institutional investors signing up to at least £17 million.

In a statement, Rangers Football Club said, "The funds would be used to take the club forward, strengthen the squad when appropriate and improve facilities."

Separately, chief executive Charles Green, said, "This is an exciting time for everyone associated with this 140-year-old institution but we are just at the start of the journey. We are rebuilding and Rangers will rise again and we will do so with the help of our fans and the institutional investors who are on board."

Prior to the listing, Green was cited as the club's main shareholder in the share prospectus with a stake of almost 15 percent while Newcastle United owner Mike Ashley was listed as the third largest shareholder with 9 percent. Following the issuance of extra shares, both their stakes would now be diluted.

Share:

Recommended Articles

Comments

Rangers FC raises £22mn in share issue
Financial Planning

Could CFOs do more to boost shareholder value?

Could CFOs do more to boost shareholder value?

Working capital improvements start to pay off, but more could be donemore ..


Amazon slashes Fire Phone price ahead of iPhone 6 launch

Amazon today slashed the price of its three-month-old Fire Phone to 99 cents, an obvious bid to boost slow sales.more ..

Betfair mobile revenues spike during 'record' quarter

App use grows by 162 percent during World Cup periodmore ..

Samsung acquires cloud printing company PrinterOn

The acquisition aims to boost Samsung's business-to-business mobile offeringsmore ..

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unansweredmore ..

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *