SINGAPORE: Mapletree Greater China Commercial Trust garnered its top price for its initial public offering in Singapore, at $1.3 billion. The China-focused real estate investment trust, a unit of Singapore state investment firm Temasek Holdings Pte. Ltd.'s real-estate arm, priced its shares at the top of its indicative price range, raising US$1.3 billion. The offering, the island-state's largest IPO in two years, comes a day after Singapore's sovereign wealth fund raised US$1.25 billion from a share sale, and the Japanese government said it aims to raise US$10 billion from the sale of shares in a tobacco company next month. The sale comes even as Asian markets were rattled Tuesday by political gridlock in Italy following inconclusive national elections. The benchmark Straits Times Index has gained 2.8% this year, and Japan's Nikkei Stock Average, buoyed by a sharp drop in the yen that makes exports more competitive, has surged 9.7%. Tuesday, Mapletree Investments Pte. Ltd.'s Mapletree Greater China Commercial Trust priced its public offering at S$0.93 a unit (US$0.75), people with knowledge of the deal said Tuesday. The preliminary prospectus issued earlier this month showed an indicative price range of S$0.88-S$0.93. BN