Dangdang.com, the mainland online bookstore and electronic-commerce site, is hopeful of growing into a company with a market capitalisation of at least US$500 million when it gets its United States listing, which could be as soon as the third quarter of this year.
The firm is already talking with five potential strategic investors and venture capitalists about selling up to 20 per cent of its share capital, based on a current valuation of 'at least' US$200 million.
Co-chief executive Li Guoqing said the company was confident of registering its maiden net profit this year - amounting to US$3 million - and hoped to get US$40 million from these potential investors.
'We are not going to lower our company valuation below US$200 million. If none of these investors agree with our valuation, we will just fast-forward our listing to this year,' Mr Li said.
Dangdang's original target was a Nasdaq listing next year. Mr Li, however, insisted the firm had no urgent need for cash.
Several investment banks such as JP Morgan Chase and Deutsche Bank had approached the company to help it gain a listing but talks stopped last year when the firm signalled it wanted to grow its business first.