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Rangers launch on AIM

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Rangers International Football Club are to issue new shares at 70p each on the Alternative Investment Market next week, raising £24.5m after expenses,   The minimum investment is £500.

Mike Ashley, the owner of Newcastle United, will own a 5.20 per cent stake in the club, while leading institutions such as Artemis, Cazenove and Legal & General have also subscribed for shares.   The accounts value the club's property at £43m and it is now debt free.

More details here:  Rangers FC raises £22.2 million via placing on AIM