RANGERS have raised nearly £13.3m in the space of seven weeks through a share issue.

Since September 66m shares have been issued - equivalent to 20% of the club.

It is identical to the number of shares former chairman Dave King had through his New Oasis Asset Limited firm.

Rangers International Football Club plc raised £1m in the past few days, issuing five million shares purchase at a price of 20p each. Two weeks ago a further a further £3.86m by issuing over 19m shares at 20p.

On September 30, another £8.45m was raised by selling over 42m shares at 20p.

It has not been divulged who the buyer or buyers are.

But according to the Rangers website, New Oasis Asset Limited remains the biggest shareholder in the club with 20.69%, followed by Douglas Park with 12.41%, George Taylor with 9.8% and Stuart Gibson with 7.76%.

Dave King stood down as chairman in November, last year.

The South African businessman announced the decision to shareholders at the 2019 AGM that he will leave the club in 2020, stating Rangers did not need his support any more.

Mr King, who gained control of the club in March 2015, described his time at the helm as "by far the greatest privilege" of his life.

The Premiership leaders had a £5m investment from the Hong Kong-based Paisley-born businessman Stuart Gibson in October.

Rangers were approached for comment.