Rangers to raise millions in new development – funds for Stevie?

MOTHERWELL, SCOTLAND - SEPTEMBER 27: Steven Gerrard, Manager of Rangers looks on during the Ladbrokes Scottish Premiership match between Motherwell and Rangers at Fir Park on September 27, 2020 in Motherwell, Scotland. (Photo by Mark Runnacles/Getty Images)

Rangers are set to raise £3M after fresh shares were issued at 20P last weekend.

The new issue, designed to create new investment or give further growth to existing shareholders, is 16,250,000 shares and if all get snapped up, as they should, it will raise a solid £3M sum for the club, in a process of stable long term growth.

The club hasn’t been issuing fresh shares a lot, with shares generally only being available as from existing shareholders, in transfers of the shares, which has seen some groups’ holdings increase significantly over the years, such as Club 1872.

But this is a completely fresh issue, and will potentially see new investors and shareholders joining the party to add to the funds in the club.

All part of the plan.