HK Stock Market Move | CENTRALWEALTHGP (00139) fell more than 40%, planning to distribute GIBO shares as a special dividend in kind.

CENTRALWEALTHGP (00139) fell by over 40%, as of the time of reporting, it dropped by 40.82% to HK$0.029, with a transaction volume of HK$67.028 million. On the news front, on the evening of May 12, CENTRALWEALTHGP announced that it proposed to distribute approximately 24.863 million shares of GIBO as a special stock dividend in physical form. Shareholders could receive 17 shares of GIBO for every 14,000 shares they hold, as well as a proposal to cancel the share premium. Earlier on May 9, GIBO merged with Bukit Jalil Global Acquisition 1 Ltd through a De-SPAC transaction and has since been listed on the Nasdaq Stock Exchange. On May 11, CENTRALWEALTHGP announced details of its investment in GIBO, with its stake in GIBO Holdings valued at $179 million USD, recording an unrealized profit of $1.14 billion HKD. It is reported that GIBO was established in 2019, with its main business being AI video and image production software. Its main operations are in Southeast Asia, with 27 million active users and 61,000 active content creators, rapidly emerging as a leading company in the Asian AI animation sector.