Lenzing AG (OTCPK:LNZNF)

$ 29.52 0 (0%) Market Cap: 1.15 Bil Enterprise Value: 3.06 Bil PE Ratio: 0 PB Ratio: 0.90 GF Score: 68/100

Lenzing AG to Discuss Underwritten Capital Increase with Subscription Rights Call Transcript

Jun 16, 2023 / 08:00AM GMT

Release Date Price: $62.23

Transcript

Unidentified Participant

Dear all, good morning. Thank you very much for joining us today. Before I hand over to Stephan Sielaff and Nico Reiner to walk you through the presentation. I would like to give you some further details on the rights issue offering structure.

The rights issue size will be approximately EUR400 million with up to 12,068,180 shares. Key offer parameters are a subscription price of EUR33.10 per share with discount to TERP of 35.9%. B&C Group, our long-standing and largest shareholder with around 52% will participate in the rights issue in full, showing their continued trust and good partnership with us.

For the use of proceeds, management targets the following: they would be used to strengthen Lenzing balance sheet and liquidity position, and they will provide sufficient flexibility to further support Lenzing's better growth strategy road map and cash generating profitable growth. Stephan Sielaff and Nico Reiner will provide you with some additional pointers here further down in this presentation.

As already mentioned in the invitation, this will be a

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