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HELSINKI, May 14 (Reuters) - Troubled Finnish nickel minerTalvivaara plans to delist its shares fromthe London Stock Exchange, leaving its only listing in Helsinki,in a bid to cut costs.
Hurt by falling nickel prices and repeated productiondisruptions, Talvivaara last year had to suspend its miningoperations and started a court-led debt restructuring process toavoid bankruptcy.
Markets hailed the company as a new Finnish star when itlisted in London with nickel at peak prices in 2007, but thestock now trades mainly in Helsinki.
"In the future we will need to execute certain capitalmarket transactions to secure our way forward, and that is whenthe dual listing could cause a lot of costs," Chief FinancialOfficer Saila Miettinen-Lahde told Reuters.
She said London shareholders would be largely unaffected bythe delisting but noted that some index investors might dropout.
Talvivaara shares traded at 0.09 euros in Helsinki and 7.53pence in London, compared to 172 pence in 2011 before theminer's problems started.
The delisting, if approved at the company's shareholdermeeting next month, would take effect around July 14.
Meanwhile, Talvivaara is seeking funds to help it restartmining operations in the next few months.
The company's court administrator is expected to present adebt restructuring plan on May 28. (Reporting by Jussi Rosendahl; Editing by Mark Potter and JasonNeely)
