Allen & Overy (A&O), Allen & Gledhill and Paul Hastings have landed key advisory roles on the $1.3bn (£839m) Singapore IPO of a state-owned real estate investment trust (REIT).

Mapletree Greater China Commercial Trust, a China and Hong Kong-backed division of Mapletree Investments, the property arm of Singapore sovereign wealth fund Temasek Holdings, is to issue 1.7 billion shares at between 88 and 93 Singapore cents.

Singapore firm Allen & Gledhill is acting as lead adviser to the trust, fielding a team led by capital markets partners Jerry Koh, Chua Bor Jern and Teh Hoe Yue.

Paul Hastings, meanwhile, is providing Hong Kong counsel to the issuer, with corporate partner Vivian Lam overseeing a group of lawyers, while Shanghai firm Jin Mao Partners is advising on PRC aspects.

Also advising on the deal is magic circle firm A&O and Singapore's Wong Partnership, which are representing the underwriters – Citigroup Global Markets Singapore, DBS Bank, Goldman Sachs and HSBC.

A&O is providing US counsel, with Singapore based capital markets partners Yin Mei Lock and Kenny Kwan leading, whilst Wong Partnership is advising on Singapore law via managing partner Rachel Eng and the firm's deputy head of equity capital markets Long Chee Shan.

Beijing's Fangda Partners is providing Chinese counsel to the underwriters, and Singapore firm Shook Lin & Bok is acting for the trustee.

The IPO is understood to be the largest ever by a REIT in Singapore, and the biggest listing in Asia (excluding Japan) since that of the People's Insurance Company (Group) of China (PICC), worth $3bn (£1.87bn), in November last year.

According to media reports, the company plans to use the capital to help purchase the properties in its portfolio from its parent company, Mapletree Investments Pte. Those currently held by the trust include Hong Kong shopping centre Festival Walk and Beijing office development Gateway Plaza.