John Keells Holdings PLC announced that it has entered into an agreement for a private placement of common shares for gross proceeds of $80 million on December 17, 2021. The transaction will involve participation from new investors, Asia Development Bank, Investment Arm, and Leading Asia's Private Infrastructure Fund, a fund managed by Asia Development Bank, Investment Arm. The company will raise funding in two tranches. The company will raise initial investment of $50 million with an option to subscribe for additional $30 million with 12 months. Both investors will contribute equally in the transaction.