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QINGDAO TODAY
在线翻译:
szdaily -> Markets -> 
Royole seeks US$1b in funding ahead of IPO
    2019-03-18  08:53    Shenzhen Daily

ROYOLE Corp., a maker of flexible displays, is seeking about US$1 billion in a funding round ahead of an initial public offering (IPO), sources familiar with the matter said Friday.

The Shenzhen-based company is seeking a valuation of at least US$8 billion in the round as it seeks to expand its sales and marketing and research facilities, the sources said. While the company is weighing an IPO, it hasn’t set a listing destination, the sources said.

Royole, which unveiled the world’s first commercial foldable phone last year, competes with Samsung Electronics Co. and BOE Technology Group Co. to produce bendable screens using organic light-emitting diodes.

After showing off its technology embedded in hats at the 2018 FIFA World Cup, the company is working with Airbus to install displays in planes as it also works with clothing, furniture and kitchen supply customers.

The company, which was valued at about US$5 billion in a previous funding round, has invested 11 billion yuan (US$1.6 billion) building a flexible display plant in Shenzhen that went into production in June.

Connie Liu, a spokeswoman for Royole, declined to comment on the fundraising and potential IPO.

Royole was founded by Bill Liu, Peng Wei and Yu Xiaojun, who all studied at Stanford University. Its line of products also includes 3-D mobile theaters, “wearable” flex displays and a smart writing pad, which it sells on Amazon.com, JD.com and flagship stores in China, the United States and Europe.

(SD-Agencies)

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