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Report: Flexible displays manufacturer Royole aims to secure US$1B ahead of IPO

Royole Corp. is looking to raise about US$1 billion in advance of an IPO, Bloomberg News reported, citing people with knowledge of the matter.

The global flexible displays maker, which has offices in China, California and the Netherlands, is aiming for a valuation of at least US$8 billion in a financing round, the sources said. The new capital will be used to expand the company's sales, marketing and research facilities, they added.

Royole's earlier investors include Knight Capital, IDG Capital Partners, Poly (Hengqin) Capital Management Co. Ltd., AMTD Group Co. Ltd., the funds of Chinese tycoon Xie Zhikun and the venture capital unit of the Shenzhen government, according to the report.