Lenzing Sets November Deadline for Heiligenkreuz Bids as Deutsche Bank Halves Its Target

Bidders circling Lenzing's Heiligenkreuz plant will get their formal opening in November, with the sale process for the site moving into its offer phase. Production at the facility is now expected to keep running at full staffing levels until the end of March 2027, according to managing director Bernd Zauner — a shift from the earlier plan to wind operations down at the close of 2026.

The Austrian fibre maker's share register has meanwhile been redrawn by a capital increase that closed roughly two weeks ago and took effect on entry in the commercial register. Gross proceeds came to about EUR 301.2 million, capital the company intends to direct toward its strategy and a sturdier balance sheet.

Ownership Map After the Cash Call

The syndicate formed by B&C-Gruppe and Suzano S.A. continues to control around 52.25% of voting rights, Lenzing said on Thursday, leaving the two partners with an unchanged majority. Suzano Holding S.A. picked up roughly 0.80% of Lenzing shares directly through the raise, while Goldman Sachs Group holds a reported 5.86% stake. NN Group had flagged a 4.27% shareholding on 23 October.

Share capital rose from EUR 40,107,738.37 to EUR 76,204,702.90, and the total number of shares and voting rights climbed to 73,374,542. Lenzing issued 34,756,362 new shares in all, with the subscription ratio on rights reaching 99%.

Insiders and a Pledge

Several disclosures tied to the transaction landed on 23 October. Supervisory board member Georg Kasperkovitz bought 16,362 shares at EUR 8.65 apiece on the Vienna Stock Exchange through the rights offering; Christian Skilich reported a purchase the same day, and Oberbank also took up shares by exercising subscription rights. Separately, B&C KB Holding disclosed the pledging of 8,689,086 Lenzing shares, a transaction dated to the same day.

Deutsche Bank Cuts Its Target

Deutsche Bank Research lowered its price target on Lenzing to EUR 12.70 from EUR 22.00 on 28 October, keeping its "Hold" rating in place — a change to the target rather than to the recommendation. The equity is up 3.3% today.

Lenzing's next scheduled reporting date is 5 November 2026, when the company will publish third-quarter 2026 results.