Asian Tech Press (Dec 3) -- Chinese ride-hailing giant DiDi Global Inc. (DIDI) announced Friday that it is preparing to delist from the New York Stock Exchange and launch a Hong Kong IPO.

Didi announced on China's Twitter-like platform Weibo Friday, "After careful study, the company is starting the work of delisting from the New York Stock Exchange with immediate effect and initiating preparations for listing in Hong Kong."

Public information shows that on June 11 this year, the ride-hailing company filed an application for U.S. IPO, and listed in the United States on June 30 in a low profile. On its debut, Didi's offering price was set at $14, with a total of 317 million American depositary shares (ADSs) issued, raising at least $4.4 billion.

However, the third day after its U.S. IPO, Didi received a cybersecurity review, while the registration of new users was suspended.

On July 4, Didi was hit even harder, with its 25 APPs being taken offline in the name of "illegal and unauthorized collection and use of personal information".

At present, its flagship ride-hailing app Didi Chuxing has not been restored to app stores.

Didi stock peaked at the time of its IPO, hitting $18.01 that day. But in less than a month afterwards, its share price fell to its lowest of $7.16.

Its stock price has been in the doldrums since then. As of the close of trading on Thursday, Didi's share price was $7.80, with a total market capitalization of $37.6 billion.