The funds raised will be used for strengthening the playing squad, improving and developing the club’s facilities, and it is hoped it will become effective by the end of the year.
Charles Green, Chief Executive of Rangers, 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.
"I am delighted that our plans are coming to fruition. Rangers is debt-free and a huge club with enormous support and a 140 year track record of success on the domestic and international arenas. Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably.”
Chairman Malcolm Murray, added: “Charles has done a great job to bring the club back from the brink of extinction. We now move on to the next stage which is full recovery and growth. The fans loyalty has been instrumental in getting the club on its feet and the IPO gives them the chance to have a say on club matters.”
A good move for Rangers?
image: © tombrogan