Elon Musk's SpaceX is eligible for rapid inclusion in major U.S. and global stock indexes after newly announced fast-entry rules from FTSE Russell, a development that could amplify investor demand around what may become the largest initial public offering in history.
FTSE Rules Open Door For SpaceX
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According to a Reuters report on Tuesday, FTSE Russell, a London Stock Exchange Group business, said SpaceX appears eligible for both the Russell U.S. Equity Indexes and the FTSE Global Equity Index Series. FTSE Russell had proposed a fast-entry mechanism for IPOs in February while revising eligibility rules for its Russell U.S. indexes.
The index provider estimated SpaceX's investable market capitalization at about $70 billion. That clears the $17.5 billion market-adjusted breakpoint for Russell Top 500 inclusion and the $13.5 billion FTSE GEIS fast-entry threshold.
