Xinjiang Production and Construction is seeking to become one of the sixth batch of mainland firms scheduled to list overseas with plans to raise between US$100 million and $200 million from the float, according to sources. The listed vehicle, to be named Oasis Agriculture, will be engaged in growing different types of agricultural products such as fruits, vegetables and cotton. It made between 300 million yuan (about HK$279.27 million) and 400 million yuan net profit last year on turnover of between 700 million yuan and 800 million yuan, a source said. Oasis will be part of a new entity, Zhong Xinjian Group, to be formed soon by Xinjiang Production and Construction to hold all its business elements. It had recently applied to the China Securities Regulatory Commission for an H-share listing. It was hoped that the sixth batch of mainland companies to be approved for overseas listings could be announced by the middle of next year, the source said. He said the agriculture industry would be a focus of development in the mainland next year. Among the fifth batch of eight candidates allowed to list abroad, announced by Beijing earlier this month, two are also agricultural concerns namely, Heilongjiang Beidahuang Agribusiness and Guangdong Agribusiness.