- Business
- Bukit Jalil Global Acquisition 1 Ltd operates as a blank check company, or special purpose acquisition company (SPAC), whose principal business activity is to pursue a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar initial business combination with one or more unidentified target businesses or entities. Incorporated as an exempted company with limited liability in the Cayman Islands on September 15, 2022, the company maintains its headquarters at 31-1 Taman Miharja Phase 3B, Jalan 3/93, 2 ½ Miles, Cheras, Kuala Lumpur, Malaysia 55200; it conducts no current operations and generates no revenue pending completion of its business combination, focusing on emerging growth companies with cash flow potential, particularly in asset-light sectors such as technology and healthcare across global markets without geographic limitations. The company completed its initial public offering on June 28, 2023, raising $57.5 million through the issuance of 5.75 million units at $10 each on Nasdaq under the ticker BUJAU, underwritten by A.G.P./Alliance Global Partners.
In August 2024, Bukit Jalil Global Acquisition 1 Ltd entered into a definitive business combination agreement with Global IBO Group Ltd, an integrated AIGC animation streaming platform provider focused on AI-driven content creation, anime streaming, and digital media primarily serving Asia with 72 million users; the transaction, announced publicly around August 9, 2024, positioned Global IBO Group in the media and entertainment sector with a pro forma deal size of approximately $8.28 billion in merger consideration. Shareholders approved the deal on March 31, 2025, following multiple deadline extensions including a third monthly extension and a sponsor deposit of $100,000 into the trust account via an unsecured promissory note convertible into private units; the business combination closed effective May 8, 2025, resulting in the combined entity, GIBO Holdings Limited (formerly BUJA), listing Class A ordinary shares under ticker GIBO and warrants under GIBOW on Nasdaq, with a subsequent transfer to the Nasdaq Capital Market effective October 20, 2025.