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Rangers step up plans for stock market return

Fans of former Scottish soccer champions Rangers will be able to register next month to buy shares in the Glasgow club.

The club is preparing to return to the stock market after collapsing under the weight of its debt.

The new owners of Rangers have appointed Capita Registrars to handle share registration services, the club said today.

It has hired Cenkos Securities to advise on raising additional funds earlier this month.

Rangers, Scottish champions a record 54 times, have been demoted to the fourth tier of the game in Scotland after their financial failure, which began with administration in February and their relaunch as a new club in June.

"The Rangers Football Club will make further details available shortly and expects that fans will have an opportunity to register their interest in purchasing shares in The Rangers Football Club in October," chief executive Charles Green said in a statement.

Institutional investors have shown limited appetite for owning soccer club stocks, given the high salary costs in the sport and the way setbacks on the field can affect earnings.

Rangers have made a muted start to life in the lowly Scottish Third Division. They are currently fourth in the 10-team league which they had been expected to dominate.