Rangers raise £millions through second share issue of 2025 in major Ibrox development

Rangers have issued millions of new shares for the second time in the space of a month in a move that has raised significant capital.

Official paperwork from Companies House published on Monday, March 10 has confirmed that Rangers issued 26.7million new shares between the period of February 6 and 26.

The shares were purchased at 20p each - higher than their nominal value of 1p each - with the total cost amounting to £5.3m.

Rangers have issued a further 27.6million new shares against the backdrop of the impending US takeover. (Photo by Rob Casey / SNS Group) | SNS Group

The move comes hot on the heels of a previous issue of 18m new shares only last month. Paperwork filed on February 19 showed that those shares were also purchased at 20p each for a total cost of £3.6m between the dates of December 20 and January 23.

It takes the total number of shares issued by Rangers so far in 2025 to 44.7m, raising over £8.9m, and bringing the overall number of shares in the Ibrox club up to 532,223,088.

It has not been confirmed whether the share issue relates to fresh investment or loans being converted into shares, although Rangers accounts last year did show that directors had approved debt to equity switches worth £9m.

The report read: "Subsequent to the year end, the Directors have approved the conversion of £9.0 million existing debt into equity with the remaining loan balances being converted to a new long-term facility."

The share issue comes against the backdrop of a planned takeover of the Ibrox club by US-based investors.

A consortium led by Paraag Marathe, president of the San Francisco 49ers investment arm, 49ers Enterprises, which owns Leeds United, and Andrew Cavenagh, executive chairman of health insurance firm ParetoHealth is aiming to acquire at least 51 per cent of the shares in Rangers and take control of the Ibrox boardroom.

It is understood that a deal has been agreed in principle with the buyout expected to be completed before the start of the 2025-26 season.