Lenzing sets out Q2 re-IPO plan
Lenzing, the Eu2.3bn market capitalisation Austrian synthetic fibres firm, on Monday announced its intention to re-IPO the business in the second quarter of 2011. It mandated Morgan Stanley as sole global coordinator and as a joint bookrunner along with Deutsche Bank and UniCredit.
The deal will involve the sale of new shares from a Eu75m capital increase to existing shareholders, and to new investors.
Lenzings 90.5% shareholder, B & C, will offer existing shares through a partial sell-down of its stake but said that it intends to remain an active and
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