UPDATE 1-Talvivaara plans to delist from London bourse
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HELSINKI May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs.
Hurt by falling nickel prices and repeated production disruptions, Talvivaara last year had to suspend its mining operations and started a court-led debt restructuring process to avoid bankruptcy.
Markets hailed the company as a new Finnish star when it listed in London with nickel at peak prices in 2007, but the stock now trades mainly in Helsinki.
"In the future we will need to execute certain capital market transactions to secure our way forward, and that is when the dual listing could cause a lot of costs," Chief Financial Officer Saila Miettinen-Lahde told Reuters.
She said London shareholders would be largely unaffected by the delisting but noted that some index investors might drop out.
Talvivaara shares traded at 0.09 euros in Helsinki and 7.53 pence in London, compared to 172 pence in 2011 before the miner's problems started.
The delisting, if approved at the company's shareholder meeting next month, would take effect around July 14.
Meanwhile, Talvivaara is seeking funds to help it restart mining operations in the next few months.
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