Cairo - Mubasher: Riva Pharma said on Wednesday that Kaizen set the company’s stock fair value (FV) at $1.7, as a step in the voluntary delisting of the company, according to a bourse filing.
The company also said in its statement to the Egyptian Exchange that it aims at voluntary delisting its stocks from the Nile Exchange (Nilex) due to the financial obligations that resulted from the previous board not meeting the deadline for revealing financial statements.
The company also commits itself to buying the shares of all affected shareholders, at the stocks fair value.
Riva Pharma was listed on December 2010, while the trade on its stock was suspended on 1 September 2014.
