| December 31, 2017 | December 31, 2016 |
Authorized shares | 1,400,000,000 | 1,400,000,000 |
Subscribed and paid-in shares: | | |
Ordinary shares with a nominal value of COP 500 pesos | 509,704,584 | 509,704,584 |
Preferred shares with dividend without voting rights with nominal value of COP 500 pesos | 452,122,416 | 452,122,416 |
Total shares | 961,827,000 | 961,827,000 |
Subscribed and paid capital (nominal value) | $ 480,914 | $ 480,914 |