DangDang eyes 2005 initial public offering

DangDang.com, one of China's largest e-commerce companies, says it is seeking an initial public offering on the Nasdaq stock market next year. This is two years earlier than originally planned.

This is two years earlier than originally planned.

The company's public relations manager says DangDang's value is expected to grow to at least 500 million dollars within the next two to three years.

The Chinese language Internet retailer primarily sells books, video and audio products online.

DangDang's accelerated IPO plan follows its recent rejection of Amazon's offer for a 70 to 90 percent controlling stake in the Chinese firm.