Sappi is trading 14.8% up at ZAc 1,033 after the company upgraded its Q3 FY2026 earnings outlook and revealed a significant new institutional investment.
- The company now expects Q3 Group Adjusted EBITDA to be broadly in line with Q2, revising its previous forecast which had anticipated a sequential decline.
- Legal & General Investment Management (LGIM) disclosed it has acquired a 5.03% stake in the company, a move seen by markets as a major vote of institutional confidence.