Chinese flexible display maker Ruoyu technology shelved plans to list in the US, demanding up to 12 billion yuan (US $1.8 billion) in the initial public offering 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 $8 billion, 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 the information was not made public. < / P > < p > the company that made the world’s first commercial folding screen mobile phone has secretly applied for a U.S. IPO, which could raise about $1 billion, according to a report by Bloomberg news earlier this year. Later, the company decided to go public in China. < / P > < p > founded by Stanford alumni Liu Zihong, Wei Peng and Yu Xiaojun, Rouyu technology competes with Samsung Electronics and BOE in the production of flexible screens using cutting-edge organic light-emitting diode technology. < / P > < p > SoftWorld is working with Airbus to install on-board displays, as well as with clothing, furniture and kitchen supplies customers. The company said it had reached an agreement with Louis Vuitton to launch handbags with flexible screens in the future. Didi Qingju bicycle has entered 150 cities

By ibmwl