Split US term for distribution of bonus shares, through which the ownership value of each existing share is split also occurs when a company decides to reduce the par value of a share by issuing a proportionate number of lower – value shares, e.g., when a Rs 100 share is split and 10 shares for Rs 10 are issued in exchange. In a reverse split, 10 such Rs 10 shares will be exchanged for a Rs 100 share. Reverse splits are now uncommon.

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