securities firm

Six cornerstones, including Malaysia’s Khazanah, have agreed to buy $280 million worth of shares in the offering, which looks set to become the second largest IPO in Hong Kong so far this year.

The Korean brokerage firm confirms layoffs, but refers to the exercise as a realignment of its business rather than a reversal of its Asian strategy.

The Chinese brokerage has attracted two cornerstones that will take up a combined $222 million. Separately, handbag maker Sitoy raises $95 million from a well-received IPO.