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Report: Royole rumored to have filed for IPO with target of $1B

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Report: Royole rumored to have filed for IPO with target of $1B

Flexible display maker Royole Corp. has confidentially filed for an initial public offering in the U.S. with a target of about $1 billion, Bloomberg News reported, citing people familiar with the matter.

The time frame is still not clear, the sources added.

Originally, the company was targeting a valuation of about $8 billion in a financing round. But after a downturn tightened liquidity in China's venture capital sector, it decided to try U.S. markets instead, the sources said.

A spokesperson for Royole declined to comment.

Royole’s backers include Beijing Zhongtai Chuanghui Private Equity Fund Managment Co. Ltd., according to S&P Global Market Intelligence information.