Lenzing’s Capital Reset Meets a Heiligenkreuz Sale Process
Published on 11/03/2026 at 11:31 | Editorial boerse-global.de
Lenzing’s rights issue raised around EUR 301.2 million in gross proceeds, but the company’s next report will cover a period that ended before the financing was completed. The third-quarter 2026 results are due on 5 November, offering investors an update on operations while the future of the Heiligenkreuz site remains unresolved.
The new shares were issued at EUR 8.65, and 99.0% of subscription rights were exercised. Syndicate members took up 18,159,291 new shares. The company’s share capital rose to EUR 76,204,702.90, and its share count increased to 73,374,542.
Ownership disclosures show the B&C Group-Suzano S.A. syndicate still holds around 52.25% of voting rights. Suzano Holding S.A. acquired a direct stake of around 0.80%, while Goldman Sachs Group reported a 5.86% holding. Georg Kasperkovitz also disclosed buying 16,362 Lenzing shares in the rights issue at EUR 8.65 each. Lenzing reported the figures in a correction to its voting-rights notification; the company had disclosed the syndicate’s holding on Thursday.
Should investors sell immediately? Or is it worth buying Lenzing?
The share price and analyst view provide another reference point. Deutsche Bank Research cut its target on 28 October from EUR 22.00 to EUR 12.70, while keeping its “Hold” rating and citing the capital increase. Lenzing shares rose 1.9% yesterday to close at €11.00, below the revised target.
At Heiligenkreuz, Lenzing has moved the planned end of production from the end of 2026 to the end of the first quarter of 2027. The ORF reported the delay on 22 October. Media reports on Friday said the sale process is expected to enter its offer phase in November. Lenzing is in discussions with about 30 interested parties over a possible takeover of the site, where around 285 people work.
The timetable change and the sale discussions do not amount to a confirmed buyer or a commitment to keep the plant operating permanently. They are a separate part of Lenzing’s restructuring from the completed capital raise, and remain at a different stage.
That distinction will matter when the company releases its third-quarter results on 5 November 2026, also listed as 05.11.2026. The rights issue, completed around two weeks ago, falls outside the reporting period. The results will therefore provide a view of the business before the financing, rather than a direct measure of its effects.
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