Kenon (KEN) has released an update.
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Kenon Holdings Ltd. has reported a productive Q2 2024, with the sale of 5 million ZIM shares resulting in $111 million and maintaining the position as ZIM’s largest shareholder. OPC, a Kenon subsidiary, raised approximately $220 million through a share offering, with Kenon investing around $120 million and maintaining a 54.5% stake. The financial highlights include ZIM’s robust net profit of $373 million compared to a net loss in the previous year, and OPC’s reduced net loss of $7 million alongside a significant increase in its Adjusted EBITDA.
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