Shares in the FTSE 250-listed company Mercantile Investment Trust are trading at 224 following a stock split.
Mercantile Investment Trust, a JP Morgan-backed UK investment trust investing in small and medium-sized businesses, suspended trading in its shares on Thursday ahead of a planned share split which now gives every existing shareholder an additional nine shares. The company’s share price went from 2232 pence on Thursday to 224 pence on Friday.
MIT has performed consistently well over the last ten years and managed to survive the post-2008 crisis period better than many of its peers. In the last two years the share price rose 30% and its net asset value increased by 27% during the same period.