Jody Godoy

(Reuters) – Didi Global Inc is under investigation by the U.S. Securities Exchange Commission over the $4.4 billion Initial Public Offering in the United States last June, according to the Chinese ride-hailing company.

Didi said that it was cooperating in the U.S. Securities Regulator’s Investigation into the Offering, which is “subjected to strict compliance” with Chinese Law, as the company stated in its Monday annual filing.

Didi stated, “We can’t predict the outcome and timing of this investigation.”

However, the company didn’t provide any further information about the nature or extent of the investigation.

On Tuesday, a spokesperson from the company didn’t immediately reply to my request. The spokesperson from the SEC said that there is no comment being made by them about possible investigations.

Chinese authorities scrutinized the IPO in July last year over privacy concerns. According to sources, Chinese regulators had urged the firm not to list while a cybersecurity review was performed.

After the order was made, Didi’s strong cyberspace watchdog in the country ordered 25 of Didi’s mobile apps to be removed from app stores and asked them to stop accepting new users.

Didi then announced, in December 2008 that it would be delisting its American Depositary Shares on the New York Stock Exchange (NYSE), and will pursue a Hong Kong stock exchange listing.

Didi shareholders can vote on May 23, on whether or not it plans to remove these ADRs from the market.