The Rangers share issue will close today with the likelihood that supporters will not have bought up the full £10m worth of shares set aside for them.
The Rangers share issue will close today with the likelihood that supporters will not have bought up the full £10m worth of shares set aside for them.
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Richard Wilson
Expectations are that around between £3-5m will be raised from fans, to add to the £17m generated by selling stakes in the club to institutional investors.
The deadline for the Initial Public Offering could, in theory, have been pushed back, but it remains the case that shares will stop being sold at 1pm today. The club initially sought to raise £20m, for working capital, investment in the club and the stadium, and to maximise the property assets. The response from institutional investors was oversubscribed, but sales were capped to allow fans to buy £10m worth of shares.
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