Kenon unit OPC plans NIS 800m private share placement

Kenon Holdings Ltd. filed a Form 6-K reporting that its subsidiary OPC Energy Ltd. plans a private placement of 8,000,000 new ordinary shares to institutional investors in Israel.

Rhea-AI Filing Summary

Kenon Holdings Ltd. filed a Form 6-K reporting that its subsidiary OPC Energy Ltd. plans a private placement of 8,000,000 new ordinary shares to institutional investors in Israel. OPC expects to raise gross proceeds of approximately NIS 800 million (about $257 million) at NIS 100 per share, compared with a closing price of NIS 105.7 on March 12, 2026. OPC stated that the new shares will represent about 2.7% of its issued and outstanding shares before the placement, and, after completion, Kenon is expected to hold roughly 46% of OPC’s ordinary shares. The placement is subject to Tel Aviv Stock Exchange approval for listing of the new shares and the OPC shares being offered have not been registered under the U.S. Securities Act of 1933.

Insights

Equity capital markets analyst

OPC raises NIS 800m via private placement, modestly diluting Kenon’s stake.

OPC Energy Ltd., a subsidiary of Kenon Holdings, plans a private placement of 8,000,000 new shares to institutional investors in Israel for gross proceeds of about NIS 800 million at NIS 100 per share. The reference price versus the prior close of NIS 105.7 implies a small discount to market.

OPC indicated the new shares equal roughly 2.7% of its issued and outstanding shares before the transaction, signaling limited dilution at the OPC level. Following completion, Kenon is expected to hold about 46% of OPC’s ordinary shares, so Kenon remains a major shareholder.

The transaction still depends on Tel Aviv Stock Exchange approval for listing the new shares and on successful closing. Forward-looking language highlights risks that the placement may not be completed and that Kenon’s ultimate ownership stake in OPC could differ from current expectations.

FAQ

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What did Kenon Holdings (KEN) announce about its subsidiary OPC Energy?

Kenon Holdings reported that subsidiary OPC Energy plans a private placement of 8,000,000 new ordinary shares to institutional investors in Israel, raising about NIS 800 million. The deal modestly dilutes existing holders but strengthens OPC’s capital base if completed.

How much capital will OPC Energy raise in the new share placement reported by Kenon (KEN)?

OPC Energy expects to raise gross proceeds of approximately NIS 800 million, or about $257 million, by issuing 8,000,000 new ordinary shares. The shares are priced at NIS 100 each to institutional investors in Israel, subject to listing approval.

At what price is OPC Energy’s private placement being conducted, and how does it compare to market?

The private placement is priced at NIS 100 per OPC Energy share. OPC’s ordinary shares closed at NIS 105.7 on March 12, 2026, meaning the placement occurs at a small discount to the recent market price, typical for institutional offerings.

How much dilution does OPC Energy’s new share issue represent according to Kenon (KEN)?

OPC Energy stated the 8,000,000 new ordinary shares will represent about 2.7% of its issued and outstanding shares before the private placement. This indicates relatively limited dilution for existing OPC shareholders if the transaction is completed as described.

What will Kenon Holdings’ (KEN) stake in OPC Energy be after the private placement?

Following completion of OPC Energy’s private placement, Kenon is expected to hold approximately 46% of OPC’s ordinary shares. This keeps Kenon as a major shareholder, though with a somewhat reduced ownership percentage compared with its current stake.

What approvals and regulatory limits apply to OPC Energy’s private placement mentioned by Kenon (KEN)?

The private placement is subject to Tel Aviv Stock Exchange approval for listing the new shares. The OPC ordinary shares referenced have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.

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Accepted by SEC EDGAR 03/13/2026 - 06:00 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

March 13, 2026

Commission File Number 001-36761

Kenon Holdings Ltd.

1 Temasek Avenue #37-02B
Millenia Tower
Singapore 039192
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒      Form 40-F ☐

EXHIBIT 99.1 TO THIS REPORT ON FORM 6-K IS INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-201716) OF KENON HOLDINGS LTD. AND IN THE PROSPECTUSES RELATING TO SUCH REGISTRATION STATEMENT.

Exhibits

99.1 Press Release, dated March 13, 2026: Kenon’s Subsidiary OPC Energy Ltd. Announces Private Placement of New Shares

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	KENON HOLDINGS LTD.
Date: March 13, 2026	By:	/s/ Robert L. Rosen
		Name: Robert L. Rosen
		Title: Chief Executive Officer

Exhibit 99.1

Kenon’s Subsidiary OPC Energy Ltd. Announces Private Placement of New Shares

Singapore, March 13, 2026. Kenon Holdings Ltd.’s (NYSE: KEN, TASE: KEN) (“Kenon”) subsidiary OPC Energy Ltd. (“OPC”) announced a private placement of 8,000,000 new ordinary shares to institutional investors in Israel for gross proceeds of approximately NIS 800 million (approximately $257 million), at a price of NIS 100 per share. The closing price of OPC’s ordinary shares on March 12, 2026 was NIS 105.7.

OPC indicated that the new shares to be issued in this private placement will constitute approximately 2.7% of OPC’s issued and outstanding shares before giving effect to the private placement. The private placement is subject to approval of the Tel Aviv Stock Exchange for listing of the new shares.

Following completion of OPC's private placement, Kenon is expected to hold approximately 46% of OPC’s ordinary shares.

The OPC ordinary shares referenced in this press release have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under that act.

Caution Concerning Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify these statements by the use of words like “may”, “will”, “could”, “should”, “believe”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “target”, “future”, and variations of these words or comparable words. These statements include statements relating to OPC’s private placement of new OPC shares, Kenon’s expected ownership in OPC after the private placement and other non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties which could cause the actual results to differ materially from those indicated in Kenon’s forward-looking statements. Such risks include risks that the private placement is not approved by the Tel Aviv Stock Exchange and is not completed, risks relating to Kenon’s ownership stake in OPC following the private placement and other risks and uncertainties, including those set forth under the heading “Risk Factors” in Kenon’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 6.0 KB