©Reuters. Mobile Global Esports (MGAM) IPO opens 13% higher
Today’s IPO of Mobile Global Esports (MGAM) opened for trading after listing 1,500,000 common shares at a public offering price of $4.00 per share.
WestPark Capital, Inc. was the sole book runner and underwriter for the offering.
Mobile Global Esports was established in March 2021 to continue and expand an Esports business started by Sports Industry of India in 2016. Through a series of deals, the rights to the business of SII and its affiliates have been assigned to MOGO beginning October of 2021. MOGO is now building and expanding the business founded by SII, which focuses on the fast-growing eSports industry, with particular emphasis in India and other South Asian markets. The Indian market for eSports and specifically eSports events at universities in India.
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