OREANDA-NEWS. June 06, 2013. Chinese mining services company Sino Australia Oil and Gas Ltd is planning an initial public offering in Australia in July, tapping international investors while domestic markets remain frozen, and braving an uncertain outlook for the sector. 
 
Chinese companies aiming to list have limited choices at home since the country's securities regulator suspended IPO approvals in October to reduce help stabilise the stock market.
 
 Sino Australia, focused on the Daqing oilfield in northern China, is planning raise up to AUD 20 million (USD19.6 million) on the Australian Stock Exchange (ASX), the company said on Wednesday. It would be the largest Chinese company to list in Australia since Blackgold International Holdings Ltd raised AUD 68 million in 2011.
 
 Sino Australia chairman and founder Shao Tianpeng said the company considered Hong Kong and Singapore, but decided to list in Australia in a strategic move to grow business there. 
 
We plan to expand our operations in Australia and Indonesia, and this IPO is the first step in our strategy, Shao told Reuters. 
 
Chinese companies will soon have another listing option in Australia, with new market entrant Asia Pacific Exchange (APX) courting around 2,000 small- and medium-sized companies in China, and hoping to list 10 companies this year. 
 
However, the Sino Australia deal comes at a tough time for Australian mining services companies, following a spate of profit warnings from firms including Transfield Services Ltd and WorleyParsons Ltd.
 
The Melbourne-based D2MX Pty Ltd is the lead manager for the offer.