resourcehouse listing late november

UPDATE 1-Palmer's $3 bln Hong Kong IPO to get review next week
Published: 18 Oct 2009 16:50:47 PST

* Clive Palmer's Resourcehouse plans to list in late Nov

* Resourcehouse to move headquarters to Hong Kong (Adds details, byline)

HONG KONG, Oct 16 - Resourcehouse, controlled by one of Australia's richest men, will seek Hong Kong listing committee approval for its $2 billion to $3 billion IPO on Oct. 22, a source familiar with the matter said on Friday, with the hope of listing in late November.

The company, controlled by billionaire Clive Palmer, planned to move its corporate headquarters to Hong Kong from Queensland, Australia, in order to get closer to the China market, the source said.

UBS AG and Macquarie Group are handling the offering.

The firm plans to seek more partnership with Chinese companies for resource development and eventually to supply the resources to the mainland.

The listing company Resourcehouse includes a coal project in Queensland, iron ore projects in Western and Southern Australia, and oil and gas exploration projects in Western Australia and Papua New Guinea, the source said. Among them, Resourcehouse has a partnership with Metallurgical Corp of China (MCC) for a coal project in Queensland.

Resourcehouse's board of directors includes Suntech Power Holdings Co Ltd Chairman Zhengrong Shi and Australia's former foreign minister Alexander Downer.