Rangers have launched 19 million shares at a price of 20p each, according to a report.
That will bring in around £4million if they have been sold to new investors.
It's the second share issue in the last month after Stuart Gibson put £5million into Rangers in October.
Record Sport exclusively revealed news of Gibson's investment in the club earlier this year and the Hong Kong-based, Paisley-born businessman.
The new issues could see extra money into the coffers of the Ibrox club at a time when football teams are dealing with the financial fallout of Covid-19.
A lack of gate money and matchday revenue means every club in Scotland is operating with less money than they normally would.
The Price of Football report that the shares were launched on Tuesday, although no further details of who will receive them has been disclosed so far.
Speaking last month, Gibson spoke of his hopes of bringing 'Chinese' money into the Premiership pace-setters by using his contacts in the Far East to attract extra cash.
He had told the Glasgow Times: “I would like to think I can help. When you look at the Premier League matches and you look at the hoardings all around the pitch, whether it is Man City, United, Chelsea, Liverpool, there is a lot of Chinese advertising and Chinese money in the Premier League.
“Rangers are as big a club as any of these guys, certainly when it comes to filling stadiums at the very least. I think they are a highly undervalued club in that regard, and I think some Chinese sponsors would get that undervalued status of the club.
“I will make it a point to try and reach out to some Chinese or Asian money that might have an interest in football. That is probably what I can offer, to be honest, and maybe introduce them to new investors and sponsors.”
