Premiership rugby club London Irish is to raise about £2m ($2.9m/EUR3.3m) from private investors prior to its flotation on the Alternative Investment Market (AIM) next year.
Powerscourt Capital Partners, a Dublin-based investment house, is placing half the new shares with a number of Irish investors, thought to include the founder of Irish airline Ryanair.
The club's chairman John Conlan said the fundraising values the club at £7m ($10m/EUR11.5m), a 70 percent premium to the price paid for the team in 1997.
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