Royole Corp., the Chinese maker of flexible displays, is considering a listing in china, while plans for a U.S. listing have been put on hold, Bloomberg reported. Bloomberg reported earlier this year that Yuyu Technologies had quietly submitted a U.S. IPO application to raise $1 billion. But people familiar with the matter said the company was initially considering listing in China and had not made any final decision. A Joju Technology spokesman declined to comment.
Joju is known for making the world’s first commercially available foldable mobile phone. Last year, the company initially planned to launch a private-equity round at a valuation of $8bn, according to people familiar with the matter. But then, as the economy went down and liquidity tightened, the company decided to go public in the US.
Since January, many Chinese companies already listed in the US have considered a second listing in hong Kong, while China has been actively stouing positive signals to attract innovative technology companies to list on the Shanghai and Shenzhen stock markets.
Competitors include Samsung Electronics and Beijing Oriental Technologies. These companies are actively developing bendable screens using cutting-edge organic light-emitting diode technology. The company presented a flexible screen cap during the 2018 World Cup in Russia, and in January this year released a smart speaker with a body with a curved screen.
Early investors in the company include Knight Capital, IDG Capital, Poly Capital Management, AMTD Group and the Shenzhen Government’s venture capital division.