(Yicai Global) Dec. 3 -- Chinese ride-hailing giant Didi Global said it will delist from the New York Stock Exchange and prepare to go public in Hong Kong. The company’s initial public offering was just over four months ago.

“After careful study, Didi will start the process immediately to delist from the New York Stock Exchange and begin preparatory work for a Hong Kong listing,” the Beijing-based firm said in a brief statement made via Weibo today. 

Didi aims to file for the Hong Kong listing around March, Bloomberg News reported, citing people with knowledge of the matter.

Didi went public in New York on June 30, pricing the shares [NYSE: DIDI] at USD14 each, the top end of the marketed range, and raised over USD4.4 billion, the most for a Chinese internet company listing in the United States this year. The floatation valued Didi at USD67.5 billion on a non-diluted basis.

Two day later, China’s Cybersecurity Administration of China announced it had launched a cybersecurity review into Didi, during which the platform was not allowed to register new users. The following day, Didi’s stock ended trading almost 20 percent down. As of yesterday’s close, it has lost 44 percent since the IPO.

On July 4, the cybersecurity watchdog ordered Chinese app stores to pull Didi's main app because the ride-hailing firm was found to have illegally collected the personal data of users. On July 9, the CAC also ordered all of Didi’s 25 apps to be removed from app stores.

The company is still under review and the apps remain unavailable. 

On July 10, the CAC then published for public comment proposed amendments to the country’s Cybersecurity Review Measures that would require businesses seeking to list overseas to apply for cybersecurity reviews if they handle data on more than 1 million users.

Editor: Futura Costaglione