Company has spun-off a division into a separate company

So I have shares in a company that now has spun-off one of its division into a separate company and that new company is also now publicly listed. I got one share in the new company for each four shares I had in the old company. But I have no idea how to record this event in PP. Could someone advise me, please?

Hey JulianF,

Basically it is a dividend of the spinning-off company and a purchase of shares of the span-off company for the amount of those dividends. Based on the tax system in your country the dividend transaction may be taxed or not.

Ok, thanks

Hey, I’m trying to figure out the best way of reflecting a spin-off in PP. If we do as you propose, the dividend data will be tampered and we will see a “fake” dividend that never reached our pockets :confused:
Any fresher ideas?

What @Harry_Hirsch has described is the freshest, and will remain the freshest in the future.