Rangers could rake in almost £4m in new investment after the club announced a second share issue in less than a month.
The highly reputable Price of Football tweet last night that the club has issued over 19m shares at a price of 20p each with the total cost reaching almost £4m.
That share issue comes after the Ibrox club successfully raised around £8m in fresh investment last month with Asia-based businessman Stuart Gibson increasing his shareholding.
Paisley-born Gibson increased his stake at Ibrox to 8.27% in the October share purchase making him an increasingly influential force at Ibrox, with his investment believe to be worth £5m.
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 [Glasgow Times].
Price of Football’s Kieran Maguire gave no further information about who will receive the shares with the Daily Record describing it as a “mystery investment”.
Upon investing in the club in October, Gibson also gave an insightful interview into how he hopes to bring his experience and connections in Asia to the Ibrox boardroom.
“I would like to think I can help,” said Gibson [Glasgow Times].
“When you look at the Premier League matches and you look at the hoardings all around the pitch, whether it is Man City, United, Chelsea, Liverpool, there is a lot of Chinese advertising and Chinese money in the Premier League.
“Rangers are as big a club as any of these guys, certainly when it comes to filling stadiums at the very least.
I think they are a highly undervalued club in that regard, and I think some Chinese sponsors would get that undervalued status of the club.
“I will make it a point to try and reach out to some Chinese or Asian money that might have an interest in football.
That is probably what I can offer, to be honest, and maybe introduce them to new investors and sponsors.”
