Rangers have announced the loan signing of Portuguese forward Fabio Silva from Wolves until the end of the season.

Silva is set to join Rangers from January 1, subject to international clearance, and will become the first new arrival under manager Philippe Clement.

After joining Wolves from Porto in the summer of 2020 for what was then a club-record fee in the region of £35.6million, Silva had loan spells at both Anderlecht and PSV Eindhoven last season.

Silva, 21, has made more than 60 Premier League appearances, the last coming as a late substitute in the defeat at Sheffield United on November 4.

“I am very happy, when I spoke to people about Glasgow and about Rangers, everyone told me good things about the club and the history,” Silva said on the Rangers website.

“I played here once with Porto in the Europa League, so I already know the warm club, the environment and the stadium, so everything is perfect.

“I am very happy to be here, and I can’t wait to start training with the team.”

Clement is confident Silva can make an impact at Ibrox.

“He is a highly rated striker and it is fantastic to have him joining our squad for the remainder of the season,” the Rangers boss said.

“He is a young player who already has some great experience in his career in both England and in Europe. I am looking forward to working with him moving forward.”

Wolves sporting director Matt Hobbs feels Silva will benefit from the move to Scotland.

“This is a simple one – Fabio needs to play,” Hobbs said on the Wolves website.

“He is not getting enough opportunities here, so it’s a chance to go out and score goals and we’ll look at the future in the summer.

“Rangers don’t have a buying option, but hopefully he plays and scores goals and we’ll see where we’re at in the summer.”