Lenzing Sets November Shortlist for Heiligenkreuz as Post-Rights-Issue Register Takes Shape
Published on 11/04/2026 at 09:20 | Editorial boerse-global.de
Lenzing's sale process for its Heiligenkreuz plant is moving into its next phase, with a shortlist of potential buyers due to be drawn up in mid-November, according to media reports published today. The supervisory board will then decide whether to sell the site or close it. Until that call is made, the mill is set to keep running through the end of March 2027 — a timeline that reflects a production transfer rather than any change of heart about the site's future.
The reported schedule, which an ORF-cited company spokesman linked to the relocation of production, means operations continue while the sale procedure unfolds. No transaction has been announced as completed. A bidding phase is expected to begin in November, with the shortlist selection the immediate task at hand.
Investors greeted the news with a modest move: Lenzing shares were up 0.5% in pre-market trading at EUR 11.08.
Ownership Steady, Capital Base Larger
The sale process comes roughly two weeks after Lenzing closed a capital increase, and the company has since published its updated total voting rights figure: 73,374,542. Share capital stands at EUR 76,204,702.90. The financing raised a final gross proceeds of EUR 301.2 million, with 99.0% of the offer subscribed — a clear signal of take-up, though one that speaks to participation in the placement rather than to future earnings or share-price performance.
Should investors sell immediately? Or is it worth buying Lenzing?
Control, meanwhile, has barely shifted. The syndicate of B&C Group and Suzano S.A. still holds around 52.25% of voting rights, according to Lenzing's Thursday announcement. Suzano Holding S.A. acquired roughly 0.80% of Lenzing shares directly as part of the capital increase, while Goldman Sachs Group holds 5.86%.
That combination — a larger share count alongside an unchanged majority — is the key to reading the transaction correctly. The equity base has changed; the syndicate's grip on voting control has not.
Deutsche Bank Cuts Target, Keeps Rating
Deutsche Bank Research lowered its price target on Lenzing about a week ago, taking it from EUR 22.00 to EUR 12.70 while reaffirming its "Hold" recommendation. The sharp reduction came without any change in rating.
Lenzing at a turning point? This analysis reveals what investors need to know now.
Lenzing's next scheduled corporate event is the release of third-quarter 2026 results, set for 5 November.
For investors, the two strands — a completed financing and an unresolved plant sale — answer different questions. The capital structure is now described and the funding is in place. What remains open is the operating execution, and the Heiligenkreuz decision will be the first real test of it.
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