Thai court to give verdict on PTT case on Dec. 14

BANGKOK, Nov 30 (Reuters) - Thailand's Supreme Administrative Court will deliver its verdict on a case seeking to delist PTT PCL PTT.BK, the country's biggest listed firm, on Dec. 14, a lawyer for activist groups said on Friday.

"The court asked the two sides to confirm their testimony and close the hearing process," the lawyer, who declined to be identified, told reporters after the court held a hearing on the case, which is being watched closely by the markets.

The court accepted a petition in September 2006 from anti-privatisation activists seeking to delist the top energy firm.

State-controlled PTT raised $833 million in an initial public offer in a partial privatisation in 2001 and has said many times the process was legal and transparent.

Analysts said delisting PTT, valued at $34 billion on the Thai bourse, would be a serious blow to Southeast Asia's third biggest stock market and undermine foreign investor confidence. PTT's weighting accounts for 16.6 percent of the Thai market.

Consumer groups allied with unions at state-owned firms oppose a privatisation policy they say benefits only the powerful.

First they took on EGAT, the state-owned power firm, then PTT, which runs the country's gas pipeline monopoly and has more than 30 petroleum, gas exploration, refining and petrochemical businesses.

At 0405 GMT, PTT shares were up 2.14 percent at 382 baht on expectation the verdict would leave the firm listed. The overall Thai market index .SETI was up 0.24 percent.

"The final outcome is unpredictable, but we believe the chance of delisting PTT from the stock exchange is minimal," KGI Securities said in a note.

The privatisation of state-owned companies was a major policy of Prime Minister Thaksin Shinawatra's government before it was ousted in a bloodless coup last year. PTT was among several firms partially privatised over the past five years. ($1 = 33.85 Baht) (Reporting by Pisit Changplayngam, writing by Khettiya Jittapong; Editing by Michael Battye)