Royole to issue STAR Market IPO, say reports

Royole Corp, a firm specializing in flexible display devices and technologies, is seeking to list on the Shanghai STAR Market with an initial public offering to raise 12 billion yuan (US$1.76 billion), according to media reports.

The IPO, which is expected as soon as December, would value the company at US$8 billion, Bloomberg said.

Shenzhen-based Royole declined to comment on Monday.

Royole’s latest smartphone is the FlexPai2 and its tech and products cover flexible display materials, processing, devices, circuit design and software development. It introduced the world's thinnest (0.01 mm) full-color flexible display device in 2014, according to its website.

Though flexible or foldable display screens have been used in high-end models from Samsung and Huawei, the technology and the phones target a niche market, according to industry researchers.

The STAR Market was founded last year to boost innovation in the country, offering flexible entry thresholds including allowing unprofitable firms to list.