Rangers explore share issue

Charles Green: Rangers chief executive looking to release shares in the club

Rangers could soon be part owned by supporters after the club appointed a firm to assist them with plans to release shares.

London-based Cenkos Securities will assist the troubled club to increase the bank balance.

The company describe themselves as an "independent, specialist institutional securities firm", listing their principal activities as corporate finance, corporate broking, institutional stockbroking, investment funds, institutional equities and market making.

Chief executive Charles Green has repeatedly stated he wanted to give Rangers supporters the chance to purchase a major stake since he bought the club for £5.5million in June.

Now it appears he is ready to put those words into action.

He said: "From the day the consortium I led became owners of Rangers, we have repeatedly stated our intention to raise additional capital for the club and would explore all avenues, which may or may not include a stock market listing.

"We are pleased to announce that we have now appointed Cenkos Securities to assist with our plans.

"We are still in the preliminary stages of this process and will make further announcements once the club has been able to consider its plans in further detail."