The shares of IT firm eMan, which successfully completed its IPO subscription period on Monday, 31 August, began trading on the START market of the Prague Stock Exchange and the RM-System exchange on Friday, 4 September. Trading on the START market started at the subscription price of 51 CZK per share and ended the day at 60 CZK, an increase of 17.65 percent. The total volume of trades reached 2.79 million CZK.
Eman shares up by 17 percent on first trading day on the exchange [Press release]
On the RM-System exchange, operated by Fio banka, the shares of eMan strengthened by 32 percent to 67.5 CZK. There were 269 trades for a total of 5.4 million CZK. eMan thus became the most traded stock of the day, overshadowing large equities such as ČEZ and Komerční banka. Two other stocks from the START market are traded on the RM-System, namely the footwear manufacturer Prabos and the leather processor Karo.
“It’s a great satisfaction for us all. It confirms that the direction we took years ago was the right one. The demand for our solutions and digitization is growing; investors perceive this positive trend, and will purchase our shares at a higher price,” says Jiří Horyna, CEO of eMan.
How did first day of trading go?
|First trading day||START||RMS|
|Volume of trades in CZK||2,790,000||5,412,781|
|Price per share in CZK||60.00||67.50|
|Change in value||+17.65 %||+32.35 %|
|Number of trades||N/A||269|
Source: Prague Stock Exchange, RM-System
The original four founders, led by CEO Jiří Horyna, jointly control over 51 percent of eMan. More than 2 percent of the shares are owned by the company’s employees, and another roughly 47 percent is held by investors on the stock exchange. Interest in the issue was greatest among small investors, though large pension and investment funds were not left out. eMan estimates that institutional investors currently hold about 26 percent of the company’s shares. The CZEGG VENTURES fund of the STARTEEPO group, which specializes in investments in small and medium-sized enterprises, emerged as one of the largest shareholders.
“This success of a domestic company on the domestic stock exchange is a good signal for both the company traded and the stock exchange. I am sure that other Czech companies will soon follow eMan’s lead. The interest in potential IPO subscription among domestic firms is growing significantly,” added František Bostl from the STARTEEPO group.
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