Tesco plc , Britain's biggest retailer, started pre-marketing on Monday for an initial public share offer (IPO) to raise about $500 (317.36 pound) by bundling some of its shopping centres in Thailand into a listed fund, Thomson Reuters publication IFR said.

Expected to be Thailand's biggest IPO in more than five years, the sale is scheduled to be priced on March 5. The listed Tesco Lotus Property Fund will initially feature a portfolio of 15 existing shopping centres, each anchored by a hypermarket, IFR said.

The pre-marketing will run for two weeks, with the roadshow slated to start on February 20. The listing will comprise an international and a domestic tranche.

Bank of America Merrill Lynch , Nomura Holdings <8604.T>, Phatra Securities and RBS are leading the transaction, the report added.

(Reporting by Fiona Lau; Editing by Greg Mahlich)