Monitor OPC Energy share price relative to the NIS 124 reference. The collar provides downside protection while preserving upside, which is modestly positive for Kenon's NAV. No immediate catalyst, but the potential borrowing feature could be used for future investments.
Price Chart
Executive Summary
Kenon Holdings entered a collar transaction on 6,000,000 OPC Energy shares (~2% of OPC) with a reference price of NIS 124. The 3-year collar limits downside, preserves upside up to the call strike, and provides potential liquidity via borrowing—no premium paid. A routine financing and hedging move that enhances financial flexibility without material operational impact.
Key Facts
- Collar on 6,000,000 OPC shares (~2% of OPC outstanding)
- Reference price: NIS 124 (USD equivalent)
- No premium paid; 3-year term; settlement in cash or OPC shares at Kenon's election
- Kenon retains upside to call strike, limits downside, and may borrow against the collar
- Kenon held ~142M OPC shares (~46%) before the transaction
Financial Impact
No immediate cash flow; potential liquidity from borrowing; downside protection on ~2% of OPC stake; reference price NIS 124 per share
Risk Factors
- OPC share price volatility could affect collar payoff
- Counterparty risk with the investment bank
- Collateral transfer of shares creates counterparty exposure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-002951 |
| Exhibit: exhibit_99-1.htm | 0001178913-26-002951 |
| Document: 0001178913-26-002951-index-headers.html | 0001178913-26-002951 |
| Document: 0001178913-26-002951-index.html | 0001178913-26-002951 |
| Document: 0001178913-26-002951.txt | 0001178913-26-002951 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 27d ago | Press Release | $60.20 $62.06 | ▲ +3.09% | ▲ +1.18% | $66.29 (+10.12%) |
Sep 30, 2026 27d ago | 6-K | $60.20 $62.06 | ▲ +3.09% | ▲ +1.18% | $66.29 (+10.12%) |
Sep 28, 2026 29d ago | 6-K | $64.10 $61.21 | ▼ −4.51% | ▼ −5.71% | $66.29 (+3.42%) |
Sep 10, 2026 6w ago | 6-K | $65.15 $66.25 | ▲ +1.69% | ▲ +2.19% | $66.29 (+1.75%) |
Aug 19, 2026 9w ago | 6-K | $64.06 $66.20 | ▲ +3.34% | ▲ +3.73% | $66.29 (+3.48%) |
Aug 14, 2026 10w ago | 6-K | $66.49 $66.25 | ▼ −0.36% | ▲ +1.01% | $66.29 (−0.30%) |
Jun 22, 2026 18w ago | 6-K | $66.22 $67.61 | ▲ +2.10% | ▲ +2.55% | $66.29 (+0.11%) |
Jun 3, 2026 20w ago | 6-K | $81.40 $70.31 | ▼ −13.62% | ▼ −9.80% | $66.29 (−18.56%) |
Jun 1, 2026 21w ago | 6-K | $89.61 $75.10 | ▼ −16.19% | ▼ −13.44% | $66.29 (−26.02%) |
May 28, 2026 21w ago | 6-K | $91.82 $79.53 | ▼ −13.38% | ▼ −13.70% | $66.29 (−27.80%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers