How did the nominal and the market value of Sberbank shares change after their split in 2007?
As a result of the split of Sberbank shares, each ordinary share with a nominal value of RUB3,000 was converted into 1,000 ordinary shares with a nominal value of RUB3, whereas each preferred share with a nominal value of RUB60 was converted into 20 preferred shares with a nominal value of RUB3.
The market value of the shares changed proportionally to the split. For example, if one ordinary share cost RUB100,000 prior to the split, after the split it cost a thousand times less, i.e. RUB100. At the same time, the number of shares held by a shareholder increased 1,000 times. Thus, the share split did not affect the market value of the equity stake held by each shareholder.