THE CHIEF executive of Czech tech platform Eurowag said he chose London for the company's IPO because it would "get the best reception".

Martin Vohanka told City A.M.

yesterday: "It's about the best venue, where we believed there was the largest pool of investors which could understand our business model."

Founded in its current capacity in 2005, Eurowag provides the trucking industry with a tech platform to connect and optimise different business aspects, including financial and tax services as well as toll solutions and fleet management.

The company floated on the LSE in October 2021 at 150p per share and with a valuation of over £1bn.

Eurowag reported its half-year results yesterday, posting a profit before tax of €13.4m (£11.5m) - 8.1 per cent up on last year's levels.

According to Vohanka, Eurowag performed very well in difficult financial situations.

"Customers need energy payments, they need to manage their operations, they need to keep in contact with partners, and this is everything Eurowag is doing."

(c) 2022 City A.M., source Newspaper