Clive Palmer's Resourcehouse, one of Australia's top raked mining firms, has reportedly deferred its $3 Billion Initial Public Offering for Hong Kong, of which the company had recently announced plans. The move has come as a result of the regulator calling for more information on the arrangement.

Originally, the mining giant had announced that it would start the IPO from Monday, but after the Hong Kong Stock Exchange asked for more information on its coal project with Metalurgical Corp of China., Resourcehouse put off the offering indefinitely, or till it is ready to satisfactorily provide an answer to the query.

Under the arrangement of the IPO, which is being managed by Macquarie Group and UBS AG, Resourcehouse is looking to sell a 10% stake in its China First coal project, to raise funds for the coal and iron ore mines as well as successful completion of the coal project, activities which will require over $10.2 Billion.

As the mining firm gets ready to revamp its proposal and work towards providing all the information demanded by the exchange, its listing document would change by quite a degree, and the Hong Kong Stock Exchange has shared that the company would be required to gain an approval for it all over again.