Display Maker Royole Is Said to Have Filed for Confidential U.S. IPO
- The Chinese startup has filed confidentially for an IPO
- Royole competes with Samsung and BOE in a nascent field
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Chinese flexible display maker Royole Corp. has filed confidentially for a U.S. initial public offering to raise about $1 billion, people familiar with the matter said.
The startup seeks funding to expand its sales and marketing and research facilities, the people said, requesting not to be named because the matter is private. It had originally planned to raise that amount via a private financing round at a valuation of about $8 billion, people familiar with that deal said in March. But the Chinese company is now tapping U.S. markets after liquidity tightened during a downturn in China’s venture capital sector, the people said.