Australia's Bis Industries calls off planned IPO

MELBOURNE, Nov 27 (Reuters) - Australian mining services company Bis Industries Ltd, owned by Kohlberg Kravis Roberts , has called off a planned float in face of poor sentiment around the mining and resources sector, it said on Wednesday.

"The feedback I have had from investors is that, whilst they acknowledge that Bis Industries is a high quality business with a strong and attractive market position, the current negative sentiment around resources expenditure is impacting on all companies exposed to the sector," Bis Industries Chief Executive Ian Lynass said in a statement.

The company had been seeking to raise as much as A$500 million ($456 million) in an initial public offering to give it a market value of around A$1 billion, and had been aiming to list before the end of the year.