Shareholders of Bolsa de Valores de Colombia SA approved a reverse stock split in which the face value of the company's stocks was modified to 500 Colombian pesos from one peso, according to a filing.

The move aims to create better liquidity conditions for the company's stocks.

Shareholders also approved that the fractions of the resulting shares, including those from shareholders that have less than 500 shares, will be paid in cash.

As of March 22, US$1 was equivalent to 2,858.10 Colombian pesos.