No specific deadline for a potential IPO has been decided.
The Qatar-backed Group One Holdings is mulling a United States c (IPO), which comes following its exploration of a listing through a blank-check firm, according to sources familiar with the case, Bloomberg reported.
The corporation, which is behind martial arts property firm ONE Championship, is planning to change its legal address to the Cayman Islands from its current station in Singapore “as a step towards a potential US listing,” sources who disclosed the information said, opting for anonymity.
The firm plans to notify the Singaporean regulator, Accounting and Corporate Regulatory Authority, on Monday, they added.
Through an equity financing stage in December led by Guggenheim Investments and Qatar Investment Authority, the MMA property firm raised $150 million, raising its post-money valuation to $1.35 billion.
Group One will use December’s funding to improve its growth strategy, including increasing its outreach outside Asia.
The sports media platform broadcasts in more than 150 countries, and also includes gaming property One Esports for programme developers and other key stakeholders in the gaming world.
ONE Championship in Qatar
In an exclusive interview on the sidelines of the Qatar Economic Forum earlier this year, Chatri Sityodtong, Chairman and CEO of ONE Championship revealed to Doha News the company’s plans to collaborate with Qatar.
“I truly believe that Qatar is all the elements to become one of the major epicenters of sports in the future,” he said.
“I think that ONE fits very well with the long term vision of his highness, the amir. As energy, natural gas and oil declines over the next 20 to 30 years, Qatar’s future is likely to centre around “finance, tech, media, sports and I think that’s something that is very strategic for the country of Qatar and I think we’re blessed in that Qatar sees us as a major global sports property obviously with World Cup and potentially bidding for the olympics,” he said.
It’s very clear that sports is going to be a very big part of Qatar’s long term vision and I truly believe that Qatar is all the elements to become one of the major epicenters of sports in the future,” he added.
While closer collaboration is on the cards in the near future, ONE has already unveiled plans to feature the Gulf state in season two of its hit Netflix show ‘The Apprentice: ONE Championship Edition’.
The popular series gained some four million viewers in its premiere broadcast last year, placing the show as Asia’s most watched English-language reality premiere in 2021.
It also outperformed other top-rated reality competition premieres.
“[The series has] been a very exciting journey because it introduces new fans and families to our brand,” Sityodtong, said.
“The idea was introducing our brand in a different format and so you get the world champions playing cameo roles in the series itself, but the same time you have the candidates who are vying for a job at one. They’re having to go through not only business challenges but also physical challenges,like jumping off 110 ft bridge in Singapore,” Sityodtong added.
“They had to do a lot of crazy things with the spirit of overcoming fear, you know, living your greatest version of yourself,” the CEO of the Singaporean combat sports promoter told Doha News.
Group ONE Holdings (ONE) and Qatar’s Media City inked a Memorandum of Understanding in June during this year’s Qatar Economic Forum, in an effort to develop a long-term partnership.
This is designed to allow collaboration in the production and overseeing of a wide range of global content in Qatar across multiple media sectors, including original programming, studio shows, and Esports.
“We are excited to bring ONE closer to all our fans in Qatar and across the Middle East […] we are committed to enhancing this vision while building world-class content in Qatar to serve millions of fans around the world,” Sityodtong expressed.