MGO Global stock priced, shares pop as they begin trading on the Nasdaq in IPO

MGO Global, the lifestyle brand company that is best known for holding the license for legendary soccer star Lionel Messi’s clothing line, is having its initial public offering today. It’s one of the first high-profile IPOs of 2023. Here’s what you need to know:

What’s happening? MGO Global is going public on the stock market today. The Florida-based company was founded in 2018 and bills itself as “a performance-driven lifestyle brand portfolio company focused on strategically leveraging the fame, celebrity power and global social media influence of world class athletes, entertainers,” and other “cultural icons.”
Does MGO Global have a lot of brand partners? No. As of January 2023, the company appears to have only one brand partner: international soccer superstar Lionel Messi.
Is Lionel Messi a business partner in MGO Global? No. Messi doesn’t actually hold a position at the company. As Quartz reports, Messi merely licenses some of his brand to MGO. Messi’s current contract sees the soccer sensation getting 12% of sales for his branded products, with a minimum guarantee of $4.2 million over three years.
What Lionel Messi products does MGO Global sell? MGO runs the Messi Store website, which sells everything Lionel Messi, from shirts to posters to underwear.
What is MGO Global’s stock ticker? MGO Global is trading on the Nasdaq under the ticker MGOL.
What is the IPO price of MGOL? Shares will IPO at $5 each, with 1.5 million shares available. If all sell at its $5 IPO price, MGO Global will raise $7.5 million in its debut today.
How did it go? Shares popped in early trading on Friday and were up more than 130% at $11.62 as of 11 a.m. ET.
Will MGO Global have more celebrity brands in the future? The company has said it plans to “strategically expand its collection of lifestyle brands through industry collaborations, licensing, acquisitions and organic brand development.” But if you are launching with only one brand to begin with, Lionel Messi’s isn’t a bad one to have. The soccer legend is currently at the height of his fame after helping Argentina win the World Cup in Qatar last month.