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Securities portfolio

4.10. SP SPLIT OR AGAINST SPLIT

These operations will record:

  • The number of old shares.

  • The nominal value of the old shares.

  • The number of new shares.

  • The nominal value of the old shares.

Split

In the Split operation or splitting of shares, the nominal value of the shares is reduced, increasing their number, but maintaining the same value of the share capital.

The operation consists of the exchange of shares of a company for a greater number of shares of the same company of lower nominal value, maintaining the same percentage of participation in the share capital.

This operation does not give rise to any gain or loss of equity in the shareholder as long as he or she retains the same percentage of participation in the share capital, since in these cases there will be no variation in the value of the taxpayer's equity, even if there is an alteration in its composition. . For the purposes of future disposals, the shares received in the exchange retain the seniority of the shares delivered, that is, the date of acquisition of those delivered.

Against Split

The Contra Split operation or grouping of shares is an adjustment to the inverse of the Split. The number of securities in circulation is reduced, and the nominal value of the shares is increased, maintaining the same value of share capital.

The operation consists of the exchange of shares of a company for a smaller number of shares with a higher nominal value of the same company, the number of shares is reduced and their nominal value is increased, maintaining the same percentage of participation in the share capital. .

This operation does not give rise to any gain or loss of equity in the shareholder as long as he or she retains the same percentage of participation in the share capital, since in these cases there will be no variation in the value of the taxpayer's equity, even if there is an alteration in its composition. . For the purposes of future disposals, the shares received in exchange retain the seniority of the shares delivered, that is, the date of acquisition of those delivered.

In these operations it is necessary that the number of old shares by their nominal value is equal to the number of new shares by their nominal value. If there have been peaks, the corresponding transfer or acquisition of old shares to the company that allows this equivalence to be fulfilled will be recorded in advance.

  • SP operation type.

  • Date of the operation of transfer of rights.

  • Market key according to the operation carried out:

    • 10. Spanish official secondary securities market

    • 11. Official secondary market for European foreign securities

    • 12. Official secondary market for non-European foreign securities.

  • Number of titles.

  • Amount of the operation.

  • Nominal titles.

  • Bills.

  • Number of old titles.

  • Old nominal.

  • Example:
  • Company X carries out the following SPLIT operation on its securities:

    For each old share with a nominal value of 10 euros, there will be 2 shares with a nominal value of 5 euros.

    At the time prior to the Split, a taxpayer has 250 shares of company X, which are declared in his portfolio as an Acquisition/Subscription (AD).

  • To declare this type of operations you must register, within the corresponding grouping of the value

    When filling in the date field, the old number of titles will automatically be filled in, in this case 250.

    In the Unitary nominal field of the old titles you must enter 10 euros.

    In the No. Titles field you must enter 500 (250 x (10/5))

    In the Unitary nominal field you must enter 5 euros (the new nominal).

    You should keep in mind that this operation will be consistent (green color) when the following equality is met:

    No. of old securities x Old unit nominal = No. of new securities x New unit nominal.