Royole CEO Bill Liu. Photo credit: Shawn Koh/Fortune, under Creative Commons license

Chinese flexible display maker Royole is considering an initial public offering (IPO) in China after initially planning for one in the U.S., as first reported by Bloomberg [paywall]. Royole already filed confidentially for a public listing in the U.S. earlier this year but seems to now be considering listing in its home base of China. Royole’s planned U.S. IPO was intended to raise up to $1 billion in funding for the company, which has already secured $1.1 billion in equity and debt funding as a private company. Royole’s last-known funding round was in August of 2018.

Shenzhen-based Royole is a pioneer and global leader in the flexible display market. The company primarily manufactures bendable screens using advanced light-emitting diode technology that can be placed on platforms ranging from smartphones to smart speakers, head-mounted displays, and even hats and bags. Royole sells a suite of hardware products based on the aforementioned platforms.

Royole as a company was only founded eight years ago but has grown rapidly into a company valued at $8 billion as of its last funding round. Royole was founded by three engineering graduates from Stanford University and Tsinghua University, two elite colleges respectively based in the U.S. and China. Investors in Royole include venture capital firms like IDG Capital, CITIC Capital, Knights Investment Group, and Chinese banks like Ping An Bank and the Agricultural Bank of China. The banks have primarily provided debt funding for the company while venture capital firms have chipped in significant equity funding.