Rangers Football Club today formally announced its intention to seek admission to the AIM of the London Stock Exchange.
The club is hoping to raise £20 million for developing the squad & facilities at the club, as well as providing more working capital. The Ibrox Stadium is Scotland’s only UEFA elite club stadium.
Charles Green, Chief Executive of Rangers, explained that the IPO announcement shouldn’t come as a surprise:
“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.”
The Chairman of the club, 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.”
Fans and other interested parties can register their interest from 5pm today online at www.rangers.co.uk.
The Rangers share offer helpline will be open from 12pm on Thursday 11th October 2012 on +44 (0)871 6649 271.