Owner of Singapore's largest mall and premium commercial properties, Mapletree Commercial Trust announced to go public for S$648.7-million deal. This deal will dictate the pace of other real estate investment trust (REIT) with initial public offerings.

Mapletree public offers begin at April 19 and are established by Mapletree Investments with portfolio that includes VivoCity and Bank of America Merrill Lynch HarbourFront. Malpletree sell 712.9 million shares in a public offering. Mapletree has initially priced the shares within a range of S$0.84 to S$0.91 per share.

After Japan’s earthquake the markets are trying to recover from the loss and they have planned to raise their funds last month but market instability forces it to hold the plan for the time being. Maple Commercial Trust shares will start trading on April 27 at 2pm.

Analysts said that other REITs will proceed with plans of making their debut after getting signals from IPO, the second-biggest in Singapore.