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DOHA, Aug 31 (Reuters) – Group ONE Holdings, the mother or father agency of martial arts and gaming agency ONE Championship, is planning for an preliminary public offering (IPO) in America as quickly as market circumstances are optimum to drive its worldwide enlargement, its chief authorities said.
To place The underside work, the agency is altering its authorized domicile to the Cayman Islands from Singapore, Chatri Sityodtong, who May even be ONE’s founder, informed Reuters in a Zoom interview earlier this month.
ONE Championship has Discover your self to be Asia’s largest sports activities media participant, Based mostly on Nielsen, A worldwide viewers meaconstructivement and knowledge analytics agency.
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In June, Sityodtong informed an financial event in Qatar that ONE is valued at $1.4 billion.
The agency Does not have an anticipated date for the IPO.
“A pair of issues Want to happen, as Sort of precircumstances. You Have to be in A strong inventory market, So that You are getting The biggest valuation, However in addition So as that the inventory performs after you go public,” Sityodtong said.
A strong worldwide financial system was additionally important To Make constructive the agency has “tailwinds”, he said, including that neither of these precircumstances are in place now.
A potential IPO is Definitely one of a quantity of decisions ONE is contemplating So as To Increase capital, Sityodtong said, with out elaborating.
The startup has backing from Sequoia Capital, its largest institutional investor, and Qatar Funding Authority (QIA).
ONE now attracts A imply Of fifty million viewers per event As in contrast with round 40,000 viewers six yrs in the past, Sityodtong said in June.
“The subsequent step for us Is certainly going worldwide. Whether or not we’re internet hosting events in Qatar or Europe, or North America, these are all Inside the plans for the subsequent 12 months or so,” he said.
ONE has signaled a partnership with Media Metropolis Qatar following Qatar’s investment Inside the agency eight months in the past. Next yr, It is going to shoot An factor of its Netflix actuality collection ‘The Apprentice: ONE Championship Version’, Inside the Gulf Arab state.
It additionally plans To decide studios Inside the Qatari capital Doha to host stay martial arts events and is contemplating opening a regional headquarters Inside the Gulf Arab state, Sityodtong said.
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Reporting by Andrew Mills; Modifying by Christian Schmollinger
Our Requirements: The Thomson Reuters Notion Guidelines.