Israeli billionaire Idan Ofer has cut his holding in liner operator Zim by about one-fifth, according to a filing made public on Wednesday.

Ofer company Kenon Holdings has sold about 6m shares in the New York-listed Israeli owner from the 30.8m stake reported in an annual report last March.

$463m stake remains

The filing does not indicate when Kenon sold the shares or for what price. However, at Tuesday's closing price of $18.68 on the New York Stock Exchange, the units sold would have brought in roughly $117m.