(Yicai Global) July 30 -- The sharp jump in Didi Chuxing’s stock price has fallen back since the Chinese ride hailing giant yesterday denied a report claiming that the company was considering delisting from the New York stock exchange less than one month after going public.

Didi’s share price [NYSE:DIDI] closed up 11.16 percent yesterday at USD9.86. In pre-market trading it had surged as much as 60 percent. This is still 29.6 percent below its issue price of USD14 on June 30, but will be a welcome uptick for investors after the firm's stock sank to half its offer price earlier this month after it became the subject of a cybersecurity probe.

“The rumor of Didi’s privatization is untrue,” the Beijing-based company said yesterday. The firm is fully co-operating with the regulators' investigations, it added.

The Wall Street Journal had earlier the same day reported that the ride hailer was in talks to leave the New York stock exchange to appease Chinese authorities and repay investor losses. The privatization would be funded in part with the funds that Didi had raised during the initial public offering, it added.

Didi’s USD4.4 billion IPO, touted as the biggest US listing by a Chinese firm since e-commerce giant Alibaba Group Holding, was scuppered by Chinese authorities who days later announced that the company would be the subject of a cybersecurity probe for the unlawful collection and use of consumer data and ordered it off app stores and to stop registering new users.

The Cyberspace Administration of China is considering requiring platforms which hold the personal data of over one million users to complete cybersecurity clearance before they can list abroad.

Editor: Kim Taylor