Brewer OAO Yarpivo plans a share split, it was reported yesterday.

The Russian brewery, controlled by Baltic Beverage Holding, won approval for the split at an extraordinary shareholders' meeting on Monday.

Shares currently priced at RUB100 will be split into 100 shares priced at RUB1 each ($1=RUB29.83).

The company forecasts net profit for 2003 increasing 23% to RUB1.6 billion year-on-year and estimates a rise in output of 5% to 53m hectolitres.