ONE Championship: parent company Group One eyeing US IPO, sources say, as it looks to expand beyond Asia

Group One Holdings, the company behind mixed martial arts brand One Championship, is considering a US initial public offering after previously exploring a listing via a blank-cheque firm, according to people familiar with the matter.

Group One is changing its legal domicile to the Cayman Islands from its current one in Singapore as a step towards a potential US listing, the people said, asking not to be identified because the matter is private. The company plans to notify the Accounting and Corporate Regulatory Authority, the Singaporean regulator, as early as Monday, the people said.

In December, the MMA firm raised US$150 million in an equity financing round led by Guggenheim Investments and Qatar Investment Authority. The round gave Group One a post-money valuation of US$1.35 billion, the people said.

Group One will use the funding from the December round to boost its growth strategy, including diversifying its content offerings and expand outside Asia, according to a press release. The sports media platform broadcasts to more than 150 countries, and also includes gaming property One Esports, its website shows.

No specific timeline for a possible IPO has been set and the company could also explore other ways of financing, the people said.

“We’re entering a new stage of global growth, which means structuring the company appropriately to take advantage of the various strategic opportunities ahead of us,” Hua Fung Teh, president of Group One, said in an interview.