Kenon (KEN) has released an update.
Kenon Holdings Ltd. has announced the sale of 5 million shares of ZIM Integrated Shipping Services Ltd., bringing in $110.6 million and reducing their ownership stake to 16.5%. Additionally, Kenon entered a collar transaction on another 5 million shares, securing the right to retain potential share price gains while protecting against losses with possible proceeds ranging from $100 million to $155 million on option exercises. This financial maneuver allows Kenon to balance risk and potential profit from their investment in ZIM.
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