Lenzing Opens Heiligenkreuz Bid Round in November While Deutsche Bank Halves Its Target

Lenzing will begin soliciting offers for its Heiligenkreuz textile fibre plant in November, with production at the site set to continue until the end of March 2027, according to media reports published on Friday. The plant employs roughly 285 people, and the previously planned shutdown at the end of 2026 has been pushed back into the first quarter of 2027.

A company spokesperson said the mill will keep running until then to secure the transfer of operations to other sites and to maintain uninterrupted supply to customers. Lenzing has also been holding talks with about 30 interested parties about a possible takeover of the facility.

Deutsche Bank Cuts Target, Keeps Rating

Deutsche Bank Research lowered its price target for Lenzing from EUR 22.00 to EUR 12.70 on 28 October, confirming its "Hold" rating on the stock. The bank cited the capital increase as the basis for the adjustment. The move changed the target price but not the investment verdict.

Lenzing shares rose 1.9% to close at EUR 11.00, leaving the stock below the newly trimmed target.

Ownership Map Settles After Rights Issue

The completed capital increase has redrawn Lenzing's shareholder register. The syndicate of the B&C Group and Suzano S.A. continues to hold around 52.25% of voting rights, the company said. Suzano Holding S.A. separately acquired roughly 0.80% of Lenzing shares directly as part of the capital increase.

Lenzing put the Goldman Sachs Group's stake at 5.86%. NN Group reported a 4.27% voting interest on 28 October, up from 2.54% previously, with the threshold crossed on 23 October according to the notification.

Share capital now stands at EUR 76,204,702.90, and the number of shares has risen to 73,374,542, figures Lenzing published in a correction to its voting rights notification on the capital increase. Syndicate members subscribed to a total of 18,159,291 new shares. Georg Kasperkovitz also reported a purchase under the rights issue, buying 16,362 Lenzing shares at EUR 8.65 apiece.

Take-Up Near Full in EUR 300 Million Offer

In the subscription offer, 34,411,626 new shares were subscribed, giving a take-up ratio of 99.0%, according to Lenzing. The offer targeted gross issue proceeds of around EUR 300 million.

Lenzing has flagged 5 November 2026 as its next confirmed reporting date, when it will publish third-quarter results.