Bukit Jalil Global Acquisition 1, a blank check company led by Malaysian executives targeting emerging growth companies, filed on Monday with the SEC to raise up to $50 million in an initial public offering.
The Kuala Lumpur, Malaysia-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Bukit Jalil Global Acquisition 1 would command a market value of $68 million.
The company is led by CEO, CFO, and Chairman Neil Foo, whose current roles include Executive Director of Sinar Tenaga Engineering, Corporate Advisor to Malaysia-listed Smile-Link Healthcare Global, and Managing Director of Fission Capital. While it has not selected a target sector or geography, the company plans to focus on emerging growth companies that are either already or in a position to become cash-generative.
Bukit Jalil Global Acquisition 1 was founded in 2022 and plans to list on the Nasdaq under the symbol BUJAU. The company filed confidentially on December 2, 2022. A.G.P. is the sole bookrunner on the deal.
