Rangers have raised another £1m of funding from a share issue of five million shares to investors at a price of 20p each.

Kieran Maguire of the reputable Price of Football Twitter account released information from Companies House which lays bare club’s latest investment.

This latest share issue comes only a couple of weeks after the club raised close to £4m by selling almost 19m shares at 20p per share, described as a “mystery investment” by the Daily Record.

That means a total of £5m has been raked in by the club by way of share issues in the month of November alone.

However, this is the third share issue in only two months with the club also securing £8m worth of investment in the month of October.

Paisley born businessman Stuart Gibson had been allocated a total of £5m of those shares with the rest being made up by existing shareholders [Glasgow Times].

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This also means Rangers have secured £13m of fresh investment in the last six weeks.

Gibson increased his stake at Ibrox to 8.27% in the October share purchase making him an increasingly influential force at Ibrox.

Long terms investors George Taylor (10.45%), Douglas Park (13.23%) and George Letham (4.89%) also put more money into the club as Rangers secured fresh funding in early October.

Former chairman Dave King is the club’s largest shareholder, with a 22.06% stake held through New Oasis Asset Limited.

But before any Celtic bloggers start frenetically typing away at their keyboard trying to spin this into a negative for the Ibrox side, here’s what Kieran Maguire had to say about it.

Discussing the share issues, Maguire says: “Given that we are in the middle of a global pandemic that prevents clubs generating revenue from its main source going to shareholders makes sense IMO.”

 

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