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Flexible screen manufacturer Ruoyu technology shelves U.S. listing plan and seeks to raise $1.8 billion in Shanghai IPO

via:CnBeta     time:2020/11/27 23:35:30     readed:121

China's flexible display maker Ruoyu technology has shelved its U.S. listing plan, demanding up to 12 billion yuan (US $1.8 billion) in an initial public offering (IPO) of Shanghai Science and technology innovation board.The company plans to file a listing application as soon as December, and the company's valuation could rise to more than $8bn, higher than the valuation sought in last year's round of private equity financing, according to people familiar with the matter who declined to be named because of the information not disclosed.

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Representatives of Rouyu declined to comment.

The familiar with the situation said that the final size of Ruoyu technology fund-raising depends on market conditions, there may still be changes.

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