21st Austria weekly - Lenzing, Vienna Stock Exchange (02/04/2021)

Lenzing: Over the past four weeks, Lenzing AG has worked intensively together with Palmers Textil AG to address the allegations concerning Hygiene Austria LP GmbH. Lenzing concluded that measures had to be taken immediately in light of the state of its public image. Along with the performance specifications needed to ensure the sound and continuing existence of the company as a going concern, the two shareholders have agreed that Lenzing's stake in Hygiene Austria will be transferred to Palmers. Lenzing will waive its right to a suitable purchase price for the time being in order to ensure the continued existence of Hygiene Austria in line with its founding principle. In turn, this should enable Palmers to provide further funding to the company. "Following several extremely intense weeks, I am pleased to report that we have pinpointed the primary deficiencies and have made every effort to deal with them in cooperation with Palmers. Accordingly, we have put in place a framework for consistently professional management, outstanding quality assurance, and good working conditions", said Stephan Sielaff, member of the Managing Board of Lenzing AG who was charged by the Supervisory Board to review and deal with the events related to Hygiene Austria.
Lenzing: weekly performance: 8.37%

Vienna Stock Exchange: The Austrian stock market continues to pick up speed in the first quarter of 2021. The Austrian national index ATX ranks among the top indices in a global comparison (ATX TR: +13.88% DAX: +9.40%, Eurostoxx 50: +9.73%, S&P 500: +6.45%). The rally is accompanied by strong equity turnover (January-March 2021: EUR 20.5 billion). In the direct market plus, the Vienna Stock Exchange welcomed two companies (beaconsmind AG, XB Systems AG), Extrafin S.p.A. is new to the direct market. With more than 1,400 new listings, Q1 2021 was the historically best first quarter ever for bonds. This growth is spurred by international serial issuers on the Vienna MTF. Austrian companies are currently focusing on green bonds (new issues by S Immo AG, Vienna Insurance Group AG, Verbund AG).

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (02/04/2021)

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