DAVE King, the Rangers chairman and major shareholder, yesterday stressed he has no intention of selling his stake as it emerged a Japan-based real estate tycoon is set to participate in a £20m share issue this summer.

Stuart Gibson, who was born and brought up in Paisley and is a lifelong Rangers supporter, is expected to make a substantial investment in the Ibrox club along with another businessman from the Far East.

Gibson, who has worked in property development and funding in Asia for over 30 years, is currently the co-chief executive officer of e-Shang Redwood (ESR), a company he co-founded.

But King, the South Africa-based financier who is poised to stand down as chairman after almost five years in the role, emphasised that he is not preparing to offload the 25.58 per cent shareholding that is held by his family firm, New Oasis Asset Limited.

"I am not selling any shares,” he told the Press Association. "As I said at the AGM, we will raise new funds. No existing shareholders are selling."

Gibson is responsible for overseeing his Hong-Kong based property development group's overall operations and business development. ESR is reported to have assets worth more than £1.5 billion under its management.

"I was first assigned to Japan in 1987 so I've been living and working in this part of the world for well over 30 years now,” he said in an interview in Japan last year.

"What surprised me when I came to Asia was the beauty of the country and the mild climate. I'm from Scotland, so it's completely different. I've taken up sailing since I moved here.

"I've faced enormous challenges in Japan. We had the financial crisis in 2007 and we had only just recovered from that when we were hit with the 2011 earthquake in Japan. I've been through a lot here."