China display maker Royole ditches US to seek $1.8b local IPO

China display maker Royole ditches US to seek $1.8b local IPO

A Royole Corp. Flexpai smartphone sits on display during the 2019 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S. Photographer: David Williams/Bloomberg

Chinese flexible display maker Royole Corp. is seeking to raise as much as 12 billion yuan ($1.8 billion) in an initial public offering on Shanghai’s Star Market board after its U.S. listing plan was shelved, according to people familiar with the matter.