Ibrox developments

Gibson invests £5m in Rangers’ new share issue

Share issue: Ibrox (pic: SNS Group)

Scottish businessman Stuart Gibson has become the fourth largest shareholder at Rangers after investing £5 million into the club.

The Japan-based property tycoon made his move as part of a new share issue which, according to papers lodged at Companies House, raised in the region of £8.5m for the Ibrox outfit.

Earlier this year it was reported that Gibson loaned Rangers £1m, which has since been converted into shares, and his latest investment of £4m takes his stake in the club to 8.27%.

Gibson, chairman Douglas Park and George Letham acquired a combined total of £2.7m worth of new shares.

Park put an additional £700,000 into the club to take his shareholding to 13.23%. He is the second largest shareholder behind predecessor Dave King, who own 22.06% through New Oasis Asset.

Taylor and Letham control 10.45% and 4.89% respectively.

Paisley-born Gibson is the founder of the Redwood Group and is the co-CEO of ESR, a leading real estate firm that operates in China, Japan, South Korea, Singapore, Australia and India.

The Ibrox board was granted permission by shareholders to issue new shares at the Annual General Meeting in November.

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