Display maker Royole said to mull China IPO as US listing plans stall
- Royole is widely known for manufacturing the world’s first commercial foldable smartphone, FlexPai
- It competes against Samsung Electronics and Chinese firm BOE Technology Group to produce bendable screens, using organic light-emitting diode technology
Chinese flexible display maker Royole Corp is weighing an initial public offering in China, while its planned US listing is put on hold, according to people familiar with the matter.
Royole had filed confidentially for a US IPO that could raise about US$1 billion, Bloomberg News reported earlier this year. The start-up, however, is now considering a listing in China, the people said, asking not to be identified as the information is private.
Considerations are at an early stage and no final decisions have been made, the people said. A representative for Royole declined to comment on the matter.
Since January relations between the US and China have deteriorated sharply, with tensions spanning trade, technology and Hong Kong. Many US-listed Chinese companies are considering second listings closer to home in Hong Kong, while the mainland has been actively seeking to lure innovative technology companies to list in Shanghai and Shenzhen.