Lenzing has launched a fully underwritten capital increase with subscription rights, targeting approximately €300 million ($339.3m) in gross proceeds to support its “Grow Nonwovens, Reset Textiles” strategy.
The company plans to issue 34,756,362 shares at €8.65 ($9.78) each, a 42.5% discount to the theoretical ex-rights price. Existing shareholders will be entitled to subscribe for nine new shares for every 10 shares held.
Lenzing has launched a fully underwritten capital increase with subscription rights, targeting approximately €300 million ($339.3m) in gross proceeds to support its “Grow Nonwovens, Reset Textiles” strategy.
The company plans to issue 34,756,362 shares at €8.65 ($9.78) each, a 42.5% discount to the theoretical ex-rights price. Existing shareholders will be entitled to subscribe for nine new shares for every 10 shares held.
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