There has been a strong response to the placing of ordinary shares, preference shares and loan stock by Real Estate Opportunities (REO), the split capital investment fund launched by Aberdeen Asset Management and Treasury Holdings. It is understood that the £228-million sterling fund-raising was about 1.5 times oversubscribed.

The ordinary shares were listed yesterday on the Dublin and London stock markets and, although no stock traded, the shares were drawing bids at a small premium to the 100p sterling issue price.