By Daniel Stanton

Mapletree Greater China Commercial Trust is on track to start bookbuilding for its planned $1.3 billion Singapore real estate investment trust (REIT) IPO on Feb. 18, IFR reported on Wednesday.

The offering should be Singapore's largest ever REIT IPO and this year's biggest equity offering in Southeast Asia so far.

Cornerstone investors are expected to take up around half the deal size, IFR reported, saying the trust will offer a yield of above 5 percent.

Bookbuilding for the deal will run from Feb. 18 to 26.

Citigroup, DBS, Goldman Sachs and HSBC are handling the deal.

Follow us on Twitter: @ALB_Magazine.