Lenzing Extends Heiligenkreuz Lifespan to March 2027 as Post-Rights-Issue Ownership Map Emerges

Lenzing will keep its textile fibre plant in Heiligenkreuz running until the end of March 2027 rather than winding it down by the close of 2026, the Austrian fibre maker said. The extra runway will be used to work through material inventories and to shift selected fibre production to other sites within the group.

The operational update came alongside a fresh look at the company's shareholder base following its recent capital increase. The syndicate of B&C-Gruppe and Suzano S.A. continues to control a majority of voting rights, holding approximately 52.25%. Suzano Holding S.A. picked up an additional 0.80% of the shares directly, while Goldman Sachs Group was reported at 5.86%. NN Group had disclosed a 4.27% equity voting stake on 23 October.

Capital Raise Reshapes the Register

The rights issue, completed roughly two weeks ago, generated gross proceeds of about EUR 301.2 million, which Lenzing intends to deploy toward executing its strategy and reinforcing its capital structure. A total of 34,756,362 new shares were issued, with the subscription ratio reaching 99%. Members of the B&C/Suzano syndicate took up 18,159,291 of the new shares between them. Share capital rose from EUR 40,107,738.37 to EUR 76,204,702.90, and Lenzing put the total number of voting rights after the transaction at 73,374,542.

Insider activity tied to the cash call has also been disclosed. Supervisory board member Georg Kasperkovitz acquired 16,362 shares at EUR 8.65 apiece under the subscription rights offering, with the transaction dated 23 October. Christian Skilich reported a share purchase on the same day, and Oberbank also added Lenzing stock by exercising its subscription rights.

Separately, B&C KB Holding GmbH pledged 8,689,086 Lenzing shares, a transaction likewise dated 23 October.

Analyst Trims Target, Keeps Neutral Stance

Deutsche Bank lowered its price target on the stock while reaffirming its "Halten" (hold) rating — the target cut did not come with a downgrade of the recommendation. The shares were up 3.3% on the day.

Lenzing's financial calendar points to 5 November for the release of its third-quarter 2026 results.