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SBD Global/October 11, 2012/Finance
Rangers Kick Off $32M Flotation Plan On London Stock Exchange
Published October 12, 2012
NOT THE FIRST: In London, Kavanagh also reported that the Rangers' IPO launch comes weeks after the flotation of ManU in N.Y. Both flotations come after a decade in which many clubs that had previously followed the fashion of chasing publicly quoted status have since been taken private again, because of "financial difficulties or the interest of foreign investors." Clubs' record in terms of delivering good returns to fans who become retail investors is "chequered with disappointment." For example, Championship side Millwall quit AIM last November after "deciding that the costs of maintaining its quoted status were too high." EPL Tottenham Hotspur also "announced plans to quit AIM" last November after maintaining a stock market listing since '83 (FINANCIAL TIMES, 10/11).