Lenzing Extends Heiligenkreuz Lifespan as EUR 301 Million Rights Issue Closes
Published on 10/26/2026 at 08:40 | Editorial boerse-global.de
Lenzing has pushed back the planned shutdown of its Heiligenkreuz production site from the end of 2026 to the close of the first quarter of 2027, buying time for a production transfer and giving roughly 285 employees at the facility a longer runway. The Austrian fibre maker said the extended transition is designed to keep customers supplied without interruption while operations are moved elsewhere, and confirmed it is holding talks with interested parties about a possible takeover of the site.
The Heiligenkreuz reprieve lands alongside a completed cash capital increase that grossed about EUR 301.2 million. Lenzing issued 34,756,362 new shares at EUR 8.65 apiece, with proceeds earmarked for its "Grow Nonwovens, Reset Textiles" strategy and for shoring up the balance sheet.
Subscription demand was strong. Investors took up 34,411,626 shares through the rights offering, a take-up rate of 99.0%. The syndicate banks placed the rump on the market, and the new shares were admitted to trading from Friday.
Should investors sell immediately? Or is it worth buying Lenzing?
Anchor Shareholders Step Up
The B&C group and Suzano S.A. syndicate absorbed about 52.25% of the rights offering — more than half — while Oberbank subscribed for roughly 3.87%. At the preliminary results stage on 20 October, Lenzing had still been counting on the banks to sell the leftover shares at a minimum of EUR 8.65 each.
Insider activity surfaced through mandatory disclosures. B&C KB Holding GmbH, an entity closely linked to supervisory board member Patrick Lackenbucher, exercised rights to acquire 8,689,086 Lenzing shares at EUR 8.65 each, according to a filing dated Thursday. Christian Skilich also exercised subscription rights under the capital increase, per a 13 October disclosure, and on Friday bought a further 1,710 shares on the Vienna Stock Exchange at EUR 8.65.
Goldman Sachs Lifts Stake
Goldman Sachs, meanwhile, reported an aggregate voting position of 4.01%, up from 3.86% previously. Tuesday's filing covered both voting rights attached to shares and positions held through financial instruments.
Lenzing will publish third-quarter 2026 results on 5 November, giving investors the next hard data point on how the strategy and the fresh capital are translating into performance.
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