Munich Re says to split stock .
MUNICH , Germany 1996-12-06
Muenchener Rueckversicherungs AG , the world 's largest reinsurer , said on Friday it expected to switch its shares to a lower par value by September 1997 at the earliest .
The group , known as Munich Re , plans to seek approval for the move at its shareholders ' meeting today .
The company said the switch would probably become effective in September .
The planned 10-for-one stock split would reduce the par value of Munich Re 's shares to five marks from 50 , causing their price to drop to around one tenth of the present value .
Munich Re 's registered shares , part of the blue-chip DAX index , were trading at 3,710 marks on Friday .
-- Frankfurt Newsroom , +49 69 756525