The numbers are out for the Booktopia Group in its push to float on the Australian Securities Exchange (ASX), with the online book giant seeking to raise $40m for its initial public offering.

The $40m will be comprised of a $30m primary raise and a $10m selldown with shares priced at $2 each.

Australia’s biggest online book retailer will have a market value of $105m upon listing, according to analysts.

Analysts also forecast $104.5m revenue in the 2017 financial year, surging to $127.3m in 2018, $150.3m in 2019 and $174.5m in 2020.

EBITDA is also tipped to reach $2.1m in 2017, more than doubling to $5.6m in 2018, $9.4m in 2019 and $13.4m in 2020.

Booktopia continues to operate in a competitive market, with global giants Amazon and its English-subsidiary Book Depository not budging in their attempts to dominate the Australasian online book industry.

Last year Booktopia gained a competitive edge and boosted sales by acquiring its largest domestic rival Bookworld, previously owned by publishing house Penguin Random House.

The Australian book industry is continuing to soar with online book sales expected to reach $678m this year and $780m by 2020, according to Quantium research.

If successful, Booktopia is expected to list on the ASX in November.

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