附近上门

Chinese ride-hailing company said the is investigating it after the company鈥檚 bumpy IPO.

The company disclosed in its annual report this week that the SEC made inquiries regarding the IPO,

Didi was one of the most anticipated IPOs of last year. A ride-hailing giant in China, the company bought operations in the country and had 493 million annual active users at the time of its S-1 filing with the SEC.

Didi went public last year, raising $4 billion through its IPO and reaching a valuation of $73 billion, according to 附近上门. But after Chinese regulators began investigating the company鈥檚 cybersecurity practices and Didi was forced out of the app stores in China, its stock price plummeted. Didi鈥檚 stock, which had an IPO price of $14, opened at $1.92 on Wednesday morning.

It was a stunning fall for a company so large and high-profile. that the company would begin the process to delist from the New York Stock Exchange and relist in Hong Kong. It鈥檚 unclear where that process stands.

Investors including and invested around $22.7 billion in Didi, according to 附近上门.

Illustration: Li-Anne Dias