SHANGHAI, (Reuters) – Chinese ride-hailing company Didi Global said Friday that it would delist the New York Stock Exchange and seek a listing in Hong Kong. This was after violating Chinese regulations by launching its $4.4 billion U.S. IPO.

This announcement was made by the company first via its Twitter account Weibo (NASDAQ 🙂

The company stated, “Following thorough research, the firm will immediately begin delisting on New York’s stock exchange and commence preparations to list in Hong Kong.”

Later, it stated in an English-language statement that the move was approved by its board.

According to it, “The company will hold a meeting of shareholders in order for them to decide on this matter at a suitable time and following the necessary procedures.”

Reuters last week reported that Didi’s top executives were being pressured by Chinese regulators to develop a plan for delisting from the New York Stock Exchange. This was in response to data security concerns.

Reuters has learned that the New York company listed despite an order from regulators to stop it while a review of its data practices was completed.

Reuters last month reported that Didi also plans to relaunch the apps in China by the end the year, in anticipation of Beijing’s cyber-crime investigation. This story has been corrected to clarify that Reuters had reported on Didi’s preparations for a relaunch last month, and not this month.