Brief: Lenzing Launches Capital Increase With Subscription Rights

Lenzing AG

16/06/2023 06:41

June 16 (Reuters) - LENZING AG  LENV.VI :
    * PER 11 SHARES HELD, EACH SHAREHOLDER CAN SUBSCRIBE TO 5
NEW
SHARES -LENZING (CORRECTS SOURCE)
    * LAUNCHES APPROX. EUR 400 MILLION FULLY UNDERWRITTEN
CAPITAL
INCREASE WITH SUBSCRIPTION RIGHTS
    * LENZING LAUNCHES APPROX. EUR 400 MILLION FULLY
UNDERWRITTEN
CAPITAL INCREASE WITH SUBSCRIPTION RIGHTS
    * SUBSCRIPTION PRICE HAS BEEN SET AT EUR 33.10 PER SHARE
    * OFFER IS SUBJECT TO APPROVAL AND PUBLICATION OF PROSPECTUS
FOR
OFFERING BY AUSTRIAN FINANCIAL MARKET AUTHORITY, WHICH IS
EXPECTED FOR TODAY
    * SUBSCRIPTION PERIOD IS EXPECTED TO COMMENCE ON 21 JUNE
2023
(INCLUSIVE) AND TO END ON 5 JULY 2023 (INCLUSIVE)
    * LENZING PLANS TO USE PROCEEDS TO STRENGTHEN ITS FINANCIAL
POSITION AND SUPPORT EXECUTION OF ITS "BETTER GROWTH" CORPORATE
STRATEGY
    * SUBSCRIPTION RIGHTS ARE EXPECTED TO TRADE FROM 21 JUNE
2023
(INCLUSIVE) UNTIL 29 JUNE 2023 ON OFFICIAL MARKET OF VIENNA
STOCK EXCHANGE
    * INTERNATIONAL PRIVATE PLACEMENT OF ANY UNSUBSCRIBED NEW
SHARES
IS EXPECTED TO TAKE PLACE ON 5 JULY 2023
    * B&C GROUP, WHICH INDIRECTLY HOLDS 52.25% OF LENZING'S
SHARE
CAPITAL, HAS COMMITTED TO SUBSCRIBE PRO-RATA TO THEIR
SHAREHOLDING FOR 6,305,315 NEW SHARES IN OFFERING AT
SUBSCRIPTION PRICE (EQUIVALENT TO APPROXIMATELY EUR 209 MILLION)
    * OFFERING WILL RESULT IN ISSUANCE OF 12,068,180 NEW NO-PAR
VALUE
BEARER SHARES WITH AN ENTITLEMENT TO DIVIDENDS AS OF 1 JANUARY
2023

Further company coverage:  LENV.VI 

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