Software developer eMan plans to enter the PX Start market

eMan, one of the leading Czech software providers, has started preparations for entering the PX Start market. The plan is to complete the process during the first half of this year. The company intends to raise approximately CZK 40 million from the sale of new shares.

eMan has opted for the PX Start market mainly because of the flexible financing options and the system’s credibility and transparency in the eyes of customers. The company management is also considering launching an employee stock programme, with the shares being traded on the stock exchange.

“We are interested in the PX Start market platform for several reasons. We see ourselves as a stable dividend player within the stock exchange in the future. We intend to come out stronger from the current coronavirus crisis. For this purpose, we are taking a number of steps, and the IPO will be one of them. Our expectations include a greater efficiency in financial management and some stabilization of the company after years of its dynamic growth,” says Jiří Horyna, the CEO and one of the founders of the company.


eMan has selected the STARTEEPO Group as an adviser for the IPO or the direct sale. STARTEEPO has already completed transactions worth more than CZK 400 million. Havel & Partners have been contracted as the legal advisor for the IPO transaction.

“I believe that eMan will appeal to investors on the Prague Stock Exchange and I am glad that PX Start will have a player from the IT sector that has not been present so far. Czech IT businesses are successful not only in the Czech Republic but also globally and I am glad that we have this opportunity to introduce a leading Czech developer to the Prague Stock Exchange,” said František Bostl, the STARTEEPO director.

The company’s needs for new capital are currently at the level of approximately CZK 40 million. This is what the existing shareholders plan to raise through the issue of new shares. They will be offering a minority share and the company will start mapping the interest among selected investors as early as in April. The parameters of the transaction should be published, along with the approved prospectus, before the end of May.


eMan is a leading Czech provider of mobile solutions. It specializes in the development of mobile and web applications and integrated solutions. In particular, the company targets clients from the automotive industry, banking and insurance, the energy sector, and services. Its portfolio includes names such as Škoda Auto, Honeywell, Edenred, E.ON, ČSOB, Allianz, Česká pojišťovna, MND, and Autodesk. Mobile applications developed by eMan have won a number of awards, for example the Mobile Application of the Year, Internet Effectiveness Awards, WebTop100, IT Project of the Year, and Golden Crown.

In 2018, the original founders acquired a 60% stake in the company from Jablotron, which invested in the company in 2016. The value of the transaction was between CZK 50 and 100 million.

eMan is currently 100% owned by its founders, who also form the company’s executive management board. The company operates not only in the Czech Republic, but also throughout Europe and North America. In 2019, the company’s revenue grew to CZK 166 million.