Lenzing's Share Base Nearly Doubles as EUR 301 Million Rights Issue Clears Final Hurdles

Lenzing's capital increase has now been formally completed on two fronts: the change was entered in the commercial register on Thursday, and the Vienna Stock Exchange expanded the listing by 34,756,362 shares on Friday. The company's total share count now stands at 73,374,542.

The gross proceeds from the issue, which closed just over a week ago, came to roughly EUR 301.2 million. Lenzing placed the new shares at EUR 8.65 apiece. Management intends to channel the funds toward its "Grow Nonwovens, Reset Textiles" strategy and toward shoring up the balance sheet.

Subscription demand was strong. Rights were exercised for 99% of the shares on offer, with the consortium banks selling the remainder in the market. Among those taking up stock were the syndicate of B&C-Gruppe and Suzano S.A., as well as Oberbank AG. Lenzing's preliminary subscription results, published on 20 October, had allocated 18,159,291 of the new shares to the B&C/Suzano syndicate.

Insider Buying at the Issue Price

A regulatory disclosure filed Friday shows supervisory board-adjacent transactions tied to the capital raise. Christian Skilich, a member of Lenzing's management board, purchased 1,710 shares at EUR 8.65 — matching the issue price exactly. Oberbank and B&C KB Holding also reported acquiring Lenzing stock through the exercise of subscription rights. The mandatory notices concern dealings by persons closely associated with a Lenzing supervisory board member.

Attention is also turning to the company's Heiligenkreuz site, where the planned production shutdown has been pushed back. According to APA, the delay is intended to allow production to be shifted to other locations. The plant employs roughly 285 people, and Lenzing is currently in talks with about 30 interested parties regarding a possible takeover of the facility.

Analyst View and What Comes Next

Lenzing's analyst consensus summary, updated on 14 October, carries a "Hold" rating from Raiffeisen Bank International with a price target of EUR 11.50. The stock currently trades at EUR 10.40, below that mark. Reuters had identified the announcement of the capital increase in early October as the trigger behind the shares' prior sharp move.

The next scheduled news event is 5 November, when Lenzing will publish its third-quarter 2026 results. The financial calendar sets a window of 15:00 to 16:00 CET for that release, which will also serve as the interim report covering the first three quarters of 2026.