Group ONE Holdings, the parent company of martial arts promotion ONE Championship, is changing its official base as it prepares for an IPO, according to Reuters.
The company originally planned to go public via a SPAC merger. Previously Group ONE had been connected CreditSuisse and Goldman Sachs for the now-defunct merger.
- Group ONE plans to do this change its legal domicile from Singapore until Cayman Islands.
- The company is Asia’s largest sports media company and ranks 2nd in digital viewership among global sports companies. Per Nilsen.
- It is valued at $1.4 billion as of June 2022, according to founder Chatri Sityodtong.
In January, group ONE behaved 150 million dollars in a funding round led by Guggenheim Investments and the Qatar Investment Authority, the country’s sovereign wealth fund.
Group ONE wants to use the fresh capital for this expand outside of Asiawhere it can compete with Endeavor’s UFC.
“Whether we’re hosting events in Qatar, Europe or North America, it’s all in the plans for the next 12 months or so,” Sityodtong said.
The company average 50 million spectators per event, up from 40,000 spectators six years ago.
extend range
In addition to the financing round, Group ONE has secured a deal with one of the most valuable companies in the world. In July, the company I Agree on a multi-year streaming rights deal Amazon Prime Videowhich began on Friday August 26th.
There are also plans to open studios in Doha and a potential regional headquarters in the Qatari capital.
