The planned listing of Star Petroleum Refining on the Stock Exchange of Thailand has been delayed to the third quarter from early 2012 as previously planned, due to the "time-consuming" documentation process, PTT PCL (PTT.TH) Chief Financial Officer Tevin Vongvanich said Tuesday.

Star Petroleum, a joint venture between PTT and Chevron Corp. (CVX), is currently seeking financial advisers, which will include both domestic and foreign brokerage firms, Tevin told reporters.

PTT and Chevron will sell a combined 30% stake in Star Petroleum through the IPO. Following the IPO, PTT's shareholding in Star Petroleum will fall to 25% from 36% while Chevron's interest will fall to 45% from 64%.

-By Oranan Paweewun, Dow Jones Newswires; 662-690-4200; oranan.paweewun@dowjones.com

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