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Rangers aims to raise new funds

The demise of Rangers from the SPL has not dimmed the new owners that new investment can be raised by floating on AIMS.

The former SPL champions may have dropped down the leagues but Chief Executive Charles Green still thinks the club can win on the stock market.

The club have started afresh in the Scottish Third division after debts of £135 million and tax liabilities saw it endure a dramatic fall from grace intends to raise £20 million by a flotation.

Green said: “From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the company and provide our fans with the opportunity to invest in their club.”

Green's consortium bought Rangers’ assets out of liquidation for £5.5 million.

The floatation is being led by Cenkos Securities. It will happen “before the end of the year” said the statement.

Funds will be used to buy new players and improve facilities and fans have been encouraged to buy shares.

SE

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