ONE Championship lays groundwork for a US IPO – ‘the next step is going global,’ says CEO Chatri Sityodtong
- Martial arts promotion’s founder says that hosting events in Qatar, Europe and North America ‘are all in the plans for the next 12 months’
- ONE plans to establish studios in capital Doha, and is considering opening a regional headquarters in the Gulf Arab state
Group ONE Holdings, the parent company of martial arts promotion ONE Championship, is planning for an initial public offering (IPO) in the United States once market conditions are optimal to drive its global expansion, its chief executive said.
To lay the ground work, the firm is changing its legal domicile to the Cayman Islands from Singapore, Chatri Sityodtong, who is also ONE’s founder, said in a Zoom interview earlier this month.
ONE Championship has become Asia’s largest sports media player, according to Nielsen, a global audience measurement and data analytics company.
In June, Sityodtong told an economic event in Qatar that ONE is valued at US$1.4 billion. The company does not have an expected date for the IPO.
“A few things have to happen, as kind of preconditions. You have to be in a strong stock market, so you’re getting the right valuation, but also so that the stock performs after you go public,” Sityodtong said.
A strong global economy was also important to ensure the company has “tailwinds”, he said, adding that neither of those preconditions are in place now.
