Riva Pharma To Start Trading In NILEX By July 15

Egyptian Exchange (EGX) administration has announced Thursday that Riva Pharma (RIVA) will start trading in NILEX on 15/07/2012.

EGX added in its statement that the above mentioned security will start without price ceilings or temporary suspension mechanisms during the first trading session only.

“Afterwards trading on the security will be in compliance with NILEX trading rules and regulations.”

Worth mentioning, Riva Pharma had executed a private placement on 225 thousand shares which represent 10% of  Riva on NILEX at $4.62 each, totaling $1.039 million.

The company’s Q1/2012 financial statements revealed net profits of $70.445 thousand, compared to $50.511 thousand during Q1/2011.