DLA Piper advises Global IBO Group on De-SPAC Business Combination and Nasdaq listing

DLA Piper has advised Global IBO Group Ltd (GIBO), an integrated AI-generated content animation streaming platform in Asia, on its business combination with Bukit Jalil Global Acquisition 1 Ltd., a publicly-traded special purpose acquisition company (BUJA). GIBO and BUJA closed the business combination on 8 May 2025. The combined company, GIBO Holdings Limited, commenced trading on the Nasdaq Global Market on 9 May, 2025 under the ticker symbol “GIBO”.

With over 72 million registered users across Southeast Asia and South Asia, GIBO has become a unique and integrated AIGC animation streaming platform with extensive functionalities provided to both viewers and creators that serves a broad community of young people. Its platform offers an AI voice synthesis tool, an AI image generator, scriptwriting and storyboarding tool, and audio-visual synchronization tool, enabling creators to expand creative possibilities, streamline content production, and create localized, engaging and entertaining content.

The DLA Piper team included lawyers from the firm’s Corporate practice, spanning China and the US. Corporate partner Yang Ge led the deal together with James Chang, both based in Beijing. They were supported by Hong Kong partner Xin Fang and China-based senior associate Wenhong You, senior consultant Olivia Lai and consultant Yuchen Ni. US-based partner Penny J. Minna and of counsel Paul Myers provided tax and structuring advice. This cross-border collaboration underscores the firm’s global reach, and the collective capabilities of our diverse practice groups.

Commenting on the transaction, Yang said: "This milestone transaction marks a pivotal step in GIBO’s growth trajectory. DLA Piper’s experience in SPAC-related deals across diverse industries, coupled with our proven track record in serving clients from the technology and AI sectors, positions us as a trusted advisor for innovative companies like GIBO. This transaction underscores our ability to navigate the complexities of De-SPAC transactions efficiently and deliver successful outcomes in high-growth sectors for our clients. We are proud to have collaborated with GIBO on this transformative journey and look forward to supporting its next phase of growth."